Launched with enthusiasm in 2019 by the Intercontinental Exchange, the owner of the New York Stock Exchange, Bakkt was seen as a revolution for integrating Bitcoin into institutional investment circles. Bakkt is a digital asset platform and payment application that allows institutions to buy, sell, store, and spend crypto assets.
However, after facing numerous disappointments, Bakkt is now admitting its financial challenges in a recent regulatory filing. The company specifically reveals uncertainty about its ability to continue operations due to liquidity constraints.
