yolowire.com – BakktHoldings (NYSE: BKKT), the cryptocurrency market based by the mother or father firm of the New York Inventory Change (NYSE), is exploring a possible sale.
A number of media experiences say Bakkt has been working with a monetary advisor to contemplate a number of choices, together with a sale.
Primarily based in Georgia, Bakkt is owned by the Intercontinental Change (NYSE: ), which additionally owns the NYSE and several other smaller exchanges.
Intercontinental Change launched Bakkt in 2018 and the corporate went public in 2021 by a particular goal acquisition firm (SPAC).
Nevertheless, Bakkt's inventory has plunged 92% since its IPO, and in current months it has raised the danger of continuous to do enterprise, saying it might not be capable to proceed working.
The potential sale of Bakkt, which affords cryptocurrency buying and selling and custody companies, comes amid a wave of consolidation within the sector.
In current weeks, RobinhoodMarkets (NASDAQ: HOOD (NASDAQ: )) introduced that it was buying crypto trade Bitstamp. Cryptominer RiotPlatforms (NASDAQ: RIOT ) has proposed a takeover of rival Bitfarms (NASDAQ: BITF ).
Bakkt just lately reported a first-quarter lack of $21 million on income of $855 million. In current months, administration has raised the potential for declaring chapter.
Bakkt inventory is down 45% over the previous 12 months and presently trades at $18.70 per share.
This content material was initially printed by Yolowire.com
