PANews reported on March 26 that Bakkt recently announced its fourth quarter and full-year financial reports for 2023. Total crypto services revenue in the fourth quarter was $199.4 million, and related crypto costs and execution, clearing and brokerage fees were $197.8 million. Total revenue in the fourth quarter was $214.5 million and total operating expenses were $293 million. Total revenue for the year was $780.1 million. Looking forward to 2024, Bakkt expects total revenue for the year to increase significantly year-on-year, reaching US$3.292 billion to US$5.114 billion. Full-year operating cash flow usage in 2024 is expected to decline approximately 70% year-over-year to US$58 million to US$72 million. In addition, Bakkt is expected to launch institutional trading services in the third quarter of 2024.
PANews reported on May 4 that Paolo Ardoino, CEO of Tether, tweeted that the Bitfinex data leak may be fake news. The sample data contains 22,500 email and password records. Bitfinex does not store plaintext passwords, nor does it store 2FA secrets in plaintext. Only 5,000 of the 22,500 emails match Bitfinex users. The alleged hackers did not contact Bitfinex, and if they had any real information, they would get a bug bounty, and no requests can be found at present. Bitfinex is conducting an in-depth analysis of the system and no vulnerabilities have been found so far. In addition, the KYC platform has strict rate limits and does not allow batch downloads. Although we believe this is pure FUD, we will continue to review the information to ensure that nothing is missed. The funds are safe.
