Bloomberg reports that the crypto custodian and trading firm Bakkt is considering a potential sale or breakup into smaller entities amidst numerous strategic options. It has also enlisted the help of a financial advisor over the decision-making process while no official decisions have been made yet. Bakkt has been suffering from poor price performance as the company’s price saw a sharp decline from $59.57 at the beginning of 2024 to $19 as of writing. Bakkt had previously applied to gain regulatory approval to raise $150 million in capital to maintain its operations.

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