{"id":82946,"date":"2023-08-11T17:32:16","date_gmt":"2023-08-11T14:32:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82946"},"modified":"2025-09-12T08:05:29","modified_gmt":"2025-09-12T05:05:29","slug":"bakkts-quarterly-revenue-rises-to-348-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bakkts-quarterly-revenue-rises-to-348-million\/","title":{"rendered":"Bakkt\u2019s quarterly revenue rises to $348 million"},"content":{"rendered":"

Bakkt, the US institutional platform, reported results for the second quarter of 2023, with revenue reaching $348 million<\/a>.<\/p>\n

For comparison, in the same period last year the figure was only $14 million. At the same time, Bakkt’s trading volume fell by 51% \u2014 to $531 million.<\/p>\n

The number of active accounts at the firm also declined by 20%. In addition, the project\u2019s net loss stood at $50.5 million.<\/p>\n

Bakkt representatives noted that the main influx of funds came from the recently acquired Apex Crypto platform<\/a>.<\/p>\n

\n

“The completion of the deal to acquire Apex Crypto at the start of the quarter was a turning point for us. We are successfully expanding our presence in the crypto ecosystem, attracting new customers,” said Gavin Michael, the company’s chief executive.<\/p>\n<\/blockquote>\n

After a series of changes in the business and leadership, the firm shifted its focus to a consumer payments app. However, according to The Block<\/a>, after a relatively positive quarterly report the company is preparing to once again emphasise crypto custody.<\/p>\n

\n

“We have successfully signed up new depository clients and are in late-stage talks with numerous potential partners,” said Bakkt.<\/p>\n<\/blockquote>\n

In the near term, the firm plans to add more assets to the platform and integrate support for institutional staking<\/a>.<\/p>\n

In May, Bakkt management allowed<\/a> the possibility of expanding its business in Europe amid a strengthening local regulatory framework.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bakkt, the US institutional platform, reported results for the second quarter of 2023, with revenue reaching $348 million.<\/p>\n","protected":false},"author":1,"featured_media":82947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[780,1252],"class_list":["post-82946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bakkt","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=82946"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82946\/revisions"}],"predecessor-version":[{"id":82948,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82946\/revisions\/82948"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82947"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}