Bakkt shares plunged 35% as they lost two major clients, Bank of America and Webull Pay
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Golden Finance reported that crypto trading and custody company Bakkt Holdings (BKKT) disclosed that Bank of America (BAC) and Webull Pay were not renewed, and their shares plummeted 35% after trading Monday, falling to $12.83. Under the agreement, Bank of America’s contract will end on April 22, while Webull’s partnership will end on June 14. In addition, Bakkt applied to the Securities and Exchange Commission (SEC) to submit its 2024 annual report.