Crypto Marketplace Bakkt Weighs Potential Sale, Breakup
- Range of options includes a breakup, people familiar say
- Crypto firm issued a going concern warning earlier this year
Bakkt comes to market as consolidation heats up in the digital-asset sector with crypto prices back near record highs.
Photographer: Tiffany Hagler-Geard/BloombergBakkt Holdings Inc., the digital-asset marketplace launched by the parent of the New York Stock Exchange, is exploring a potential sale amid a spike in crypto-related takeover activity, according to people familiar with the matter.
Bakkt has been working with a financial advisor to weigh a range of strategic options, including a breakup, said the people, who asked to not be identified because the details aren’t public. No final decision has been made and Bakkt could opt to remain independent. A representative for Alpharetta, Georgia-based Bakkt declined to comment.