Bakkt's Future in Jeopardy as It Struggles with Financial Stability

By: Eva Baxter

Crypto firm Bakkt, known for its early efforts to facilitate bitcoin transactions at Starbucks, has sounded an alarm on its financial solvency. In a recent revelation, the company hints at a possible inability to continue its operations.

This surprise announcement comes just two weeks after Bakkt had charted out ambitious plans for international expansion. The firm, supported by the entity that owns the New York Stock Exchange, had initially stepped onto the crypto scene in 2018 with the vision of enabling Starbucks customers to purchase coffee using bitcoin.

Despite these early promises and expansive plans, the crypto enterprise now finds itself on unstable financial grounds and has expressed concerns about making it to 2025.