Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BLOCKCHAIN NEWS»Bakkt considering potential sale or breakup amid surge in cryptocurrency M&A activity
BLOCKCHAIN NEWS

Bakkt considering potential sale or breakup amid surge in cryptocurrency M&A activity

By Crypto FlexsJune 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bakkt considering potential sale or breakup amid surge in cryptocurrency M&A activity
Share
Facebook Twitter LinkedIn Pinterest Email

Share this article

Follow Cryptocurrency Briefings on Google News

Bloomberg News, citing sources familiar with the matter, reported that Bakkt is considering strategic options such as sale or spin-off. The move comes amid a surge in acquisition activity within the cryptocurrency sector.

Bakkt is working with financial advisors to evaluate its options, the sources said, speaking on condition of anonymity due to the confidentiality of the matter. However, no final decision has been made and the company may choose to go independent.

Bakkt was launched in 2018 by Intercontinental Exchange, which owns several major futures markets and the NYSE. The venture’s founding CEO, Kelly Loeffler, later served as a U.S. senator from Georgia for a year. Earlier this year, Bakkt faced the risk of being delisted from the NYSE after disclosing that it may not be able to continue as a going concern.

Increased cryptocurrency merger and acquisition activity

Bakkt’s potential sale comes as consolidation activity heats up in the digital asset sector, with cryptocurrency prices nearing all-time highs. Some companies are considering expansion, while others are still recovering from the industry-wide collapse that occurred two years ago. Recent examples of consolidation include Robinhood’s acquisition of European cryptocurrency exchange Bitstamp and Riot Platforms Inc.’s proposed acquisition of rival Bitfarms.

Bakkt, which went public in 2021 through a merger with Baekji Corporation, reported a loss of $21 million on revenue of $855 million in the first quarter. The company also recently announced a partnership with Crossover Markets to develop an encrypted electronic communications network (ECN).

One of Bakkt’s valuable assets is its BitLicense from the New York State Department of Financial Services, which allows it to operate within the state. Other major industry players holding these licenses include cryptocurrency exchange Coinbase, stablecoin issuer Circle, and Jack Dorsey’s digital payments company Square.

Bakkt shares rose 15% to $22.33 on Friday following news of a possible sale, bringing the company’s market value to about $300 million. Despite this recent increase, the stock is down about 30% over the past year.

Share this article

Follow Cryptocurrency Briefings on Google NewsFollow Cryptocurrency Briefings on Google News

The information on or accessed through this website has been obtained from independent sources believed to be accurate and reliable. However, Decentral Media, Inc. makes no representations or warranties about the timeliness, completeness or accuracy of any information on or accessed through this website. . Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or other financial advice. Information on this website may change without notice. Some or all of the information on this website may be outdated, incomplete or inaccurate. We may, but are not obligated to, update information that is out of date, incomplete or inaccurate.

Crypto Briefing can augment articles with AI-generated content generated by Crypto Briefing’s own AI platform. We use AI as a tool to deliver fast, valuable, actionable information without losing the insight and oversight of experienced cryptocurrency experts. All AI-augmented content is carefully reviewed by editors and writers, including for factual accuracy, and we pull from multiple primary and secondary sources whenever possible to create our stories and articles.

You should not make any investment decisions regarding ICOs, IEOs or other investments based on the information on this website, and you should not interpret or rely on the information on this website as investment advice. If you are seeking investment advice regarding an ICO, IEO or other investment, we strongly recommend that you consult with a licensed investment advisor or other qualified financial professional. We do not receive any form of compensation for analysis or reporting on ICOs, IEOs, cryptocurrencies, currencies, tokenized sales, securities or products.

See full terms and conditions.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

HTX X JAMES WYNN LIVESSTREAM Function Critics Mimem Mem

June 3, 2025

TEZOS unveils uranium token shoes in consensus 2025.

June 2, 2025

Bitmex finds a cyber security lab in the North Korean hacker group.

June 1, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin (BTC) is faced with the first main correction in the midst of economic tension.

June 3, 2025

Do you want to unlock the slow brake out for a big discount PI network, the next token?

June 3, 2025

Australia’s encryption ATM fraud exceeds more than 3.1 million losses.

June 3, 2025

Coinbase adds Ethena (ENA) to the listed roadmap and rises 8.6% price

June 3, 2025

Text.AI starts innovative functions to improve creative experiences.

June 3, 2025

ZRC AirDrop & Trading Competition is broadcast live

June 3, 2025

XRP On Chain Payment Conflict 45% -Bom Market Signal or Purchase Opportunity?

June 3, 2025

The world’s best cloud platform: BCC Mining can easily earn $ 77,000 a day.

June 3, 2025

Bitcoin (BTC) is less than $ 111K.

June 3, 2025

Distributed exchange will be released in Q2 in the QRP ledger ecosystem, DEXRP.

June 3, 2025

Retail investors are no longer FOMO for BTC and Altcoins.

June 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin (BTC) is faced with the first main correction in the midst of economic tension.

June 3, 2025

Do you want to unlock the slow brake out for a big discount PI network, the next token?

June 3, 2025

Australia’s encryption ATM fraud exceeds more than 3.1 million losses.

June 3, 2025
Most Popular

XRP Price Prediction – How to prevent altcoins from falling below $0.50?

April 20, 2024

Bitcoin is stuck below $65,000, but there are several factors at play that are changing the market structure.

September 21, 2024

Exness’ average trading volume in 2023 is $3.7 trillion.

January 15, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.