Ant Group, founded by Jack Ma, reported a 92% decrease in quarterly profit due to economic challenges and regulatory scrutiny. Meanwhile, Bakkt, a crypto platform backed by NYSE's owner and Starbucks, warned of potential insolvency within the next 12 months, citing financial struggles and a possible inability to continue operations.
Crypto Firm Bakkt Reports Financial Issues to SEC https://t.co/SegcHUdDRa
The qualified custodian Bakkt said that if it fails to raise money through debt financing or equity dilution, it will not have enough funds to continue operations https://t.co/6dl0qqeqOw
SEC filing: NYSE-listed Bakkt, a crypto trading platform backed by the Intercontinental Exchange, warns that it might not be able to stay in business in a year (Martin Young / Cointelegraph) https://t.co/tKwWBqtf2I 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/etu9qQl821
Bakkt, founded by NYSE's owner, warns it may not have enough cash to continue operating. https://t.co/HHmFD9wKWt
Cryptocurrency exchange platform Bakkt warned on Wednesday that it may not be able to continue operating, with cash struggling to support operations for the next 12 months. Bakkt goes public in 2021. The company's shares closed at $1.45 on Wednesday, well down from more than $40…
Former Starbucks Bitcoin Partner Bakkt Says It’s Running Out of Cash ► https://t.co/Oj5Hthd3FH https://t.co/Oj5Hthd3FH
JUST IN: @Bakkt, the crypto platform introduced by the NYSE's owner and @Starbucks in 2018, warned it might not be able to stay in business. @inkbacker reports https://t.co/qygBTgfqog
Ant's quarterly profit falls 92% as the fintech pioneer founded by Jack Ma struggles to revive a business wracked by an economic downturn and more than a year of regulatory scrutiny https://t.co/C16fDmjy1s