Bakkt Hit With Class-Action Lawsuit Over Webull and Bank of America Deals
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Apr 04 2025Class-Action Lawsuit Against Bakkt: Bakkt Holdings is facing a class-action lawsuit from investors who claim the company misled shareholders about its financial reliance on major clients, Webull and Bank of America, leading to significant stock price declines after contract non-renewals were announced.
Financial Struggles and Stock Performance: Despite reporting a revenue increase in 2023, Bakkt has faced substantial net losses and a sharp decline in stock value, dropping over 36% in a month, raising concerns about its operational viability and future prospects.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
