Andy Main, Bakkt’s incoming president, said the company’s strengthened balance sheet erases previous doubts about its ability to continue.
With its balance sheet strengthened, the crypto custody firm aims to scale its business further in 2024. Bakkt’s incoming President and CEO, Andy Main, said the company will focus on several initiatives this year. The executive explained: Within the report, the company also published its expectations for its performance in 2024. According to the company, it is expecting full-year revenue of between $3.2 billion to $5.1 billion. This includes gross crypto revenues of $3.2 billion to $5 billion.
On Feb. 7, Bakkt filed an amendment to its quarterly report with the United States Securities and Exchange Commission, with a section containing a note that it may “not be able to continue as a going concern.”