Binance News: Bakkt Shares Plummet 35% Following Loss of Major Customers

The cryptocurrency market has been abuzz with news of significant developments, and the latest to hit the headlines is the dramatic drop in Bakkt Holdings’ shares. Here’s a closer look at what transpired:

Bakkt Shares Drop 35% After Loss of Two Major Customers

Bakkt Holdings (BKKT), a crypto exchange and custody firm, saw its shares plunge on Monday after disclosing that neither Bank of America (BAC) nor crypto trading app Webull Pay would renew their commercial agreements. At the time of writing, BKKT shares have dropped 35% in after hours trading to $12.83. Bank of America accounted for roughly 16% of Bakkt’s loyalty service revenue in 2023, while Webull represented 74% of Bakkt’s crypto service revenue in the same period. The loss of these two major customers is expected to have a significant impact on Bakkt’s business.

Qubetics, Quant, and Avalanche: Top Crypto Presales for 2025?

Looking for the best crypto presale to buy for 2025? Qubetics, Quant, and Avalanche are three exciting projects paving the way for the future of blockchain technology. Qubetics attracts attention with its innovative approach to interoperability and real-world asset tokenization, while Quant leads with its Over Ledger technology aiming to create a universal blockchain network. Avalanche is also mentioned, though details on its specific contributions are not elaborated in this snippet.