Bakkt shares plummet 35% after losing two major customers, Bank of America and Webull Pay

Crypto 7x24

2025-03-18 08:15:45

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Internet reports that crypto trading and custodian company Bakkt Holdings (BKKT) disclosed that Bank of America (BAC) and Webull Pay would not renew their contracts, and its share price plunged 35% after hours on Monday to $12.83. Under the agreement, Bank of America's contract will expire on April 22, while Webull's partnership will end on June 14. In addition, Bakkt applied to the U.S. Securities and Exchange Commission (SEC) for an extension of filing its 2024 annual report.

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