Bakkt's Listing Compliance Issue

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Crypto storage and trading platform Bakkt was warned by the New York Stock Exchange (NYSE) that it did not comply with the listing rules of the exchange.

According to the NYSE, the platform faces delist risk after failing to maintain its closing share price above $1 for the past 30 days.

Bakkt Plans to Fix the Problem

On Wednesday, Bakkt notified the NYSE, aiming to eliminate the difference in its share price and comply with required listing standards. The company has a period of six months to increase its share price to the minimum threshold.

Bakkt has stated that it intends to explore all available options to address this issue, which may include a potential reverse stock split, subject to shareholder approval.

Bakkt has reported net losses for eight consecutive quarters. The company has expressed concerns that it does not have sufficient cash reserves to maintain operations for the next 12 months.

热点： Bakkt