Crypto firm Bakkt has received regulatory approval to raise up to $150 million through the sale of its securities, following recent concerns over its financial stability. The approval allows Bakkt to register a new issue of securities with the SEC, which can be gradually sold over a period without separate approvals. Bakkt plans to use the capital raised to fund its long-term vision. The company has reported eight consecutive quarters of net losses since going public in October 2021, with a total of $2.26 billion in net losses since Q4 2021.