According to TechFlow, a spokesperson for Bakkt, a cryptocurrency custody and trading platform, said that Bakkt is seeking to sell up to $150 million in securities, which may alleviate the problem of insufficient operating funds.
Earlier news, Bakkt stated in a document submitted to the U.S. Securities and Exchange Commission: We may not be able to continue as a going concern. We believe that our cash and restricted cash are insufficient to support operations within 12 months of filing.
