Universal Crypto Adoption Is Over For Bakkt

Pacifica Yield
12.64K Followers

Summary

  • Whilst Bakkt has no direct exposure to FTX, near-term revenue growth will likely suffer on the back of a hit to retail and institutional crypto adoption.
  • The company recorded healthy revenue growth for its last reported earnings quarter and announced the acquisition of Apex Crypto.
  • Net losses exploded upwards on the back of material non-cash impairments, as the crypto winter stands to persist deep into the new year.
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The direct fallout to Bakkt (NYSE:BKKT) from the collapse of FTX (FTT-USD) will likely be extremely limited as confirmed by its CEO Gavin Michael in a recently released statement. But FTX, the third largest crypto exchange in

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