• Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
  • About Us
What's Hot

Thailand Imposes Taxes on Overseas Earnings of Crypto Traders – Impact on Foreign Investment?

September 19, 2023

BNB.WIN

September 19, 2023

The Crypto Chronicles: Unlocking the Power of PR Agencies in Nottingham

August 1, 2023
Facebook Twitter Instagram
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
  • About Us
CryptodailyNews24
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
  • About Us
CryptodailyNews24
Home»Crypto»Bakkt unveils total budget for 2021
Crypto

Bakkt unveils total budget for 2021

Donald MunnBy Donald MunnFebruary 18, 2022Updated:September 29, 2022No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Yesterday, 17 February, Bakkt Holdings announced its financial statements for the fourth quarter of last year and therefore for the whole of 2021. 

Bakkt’s balance sheet in 2021

During 2021, Bakkt had earnings of $39.5 million but had far greater expenses of over $250 million, so the company is at a net loss to date.

Bakkt 2021Bakkt’s 2021 balance sheet

Despite the losses, according to these figures, the company grew by 45% compared to the previous quarter.

In the press release, the company also explained that it expects to grow in 2022 to earnings of between $60 million and $80 million, which is 50% more than in 2021. Also in 2022, the company expects to spend between $150 million and $170 million.

The CEO of the NYSE-listed company, Gavin Michael, explained:

“Our impressive revenue growth in the fourth quarter and full year reflects the strong momentum we are seeing across our platform as we continue to diversify our future revenue streams. We are excited to provide crypto services, loyalty and payments to our growing list of signed partners. We’re working closely with our partners to launch new solutions such as crypto rewards and crypto disbursements in the near-term. In addition, we will be expanding on our offerings to enable open loop crypto wallets and offer additional cryptos on our platform1. We have a strong balance sheet and are well-capitalised to grow our business.”

Bakkt and crypto-related services

In 2021, Bakkt had also made its way into the world of cryptocurrencies with important announcements such as the one related to Bitcoin payments at Starbucks. The famous coffee chain has in fact been a partner of the ICE-founded company since 2018. 

In the press release regarding the 2021 budget, this commitment of Bakkt to the crypto world is highly emphasized considering the numerous partnerships the company has made in the sector, for example Manasquan Bank, Hanover Bank and Valliance Bank to help retail customers buy and sell cryptocurrencies in the banking environment. 

Bakkt also has a partnership with the BringMeThat.com platform to enable crypto payments for customers, and with Nexo for cryptocurrency custody.

Also in 2021, the company was listed on the NYSE in a $2 billion deal.

 

The post Bakkt unveils total budget for 2021 appeared first on cryptodailynews24.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Munn
Donald Munn
  • Website

Related Posts

BNB.WIN

September 19, 2023

The Cryptocurrency Revolution: Unleashing the Potential Amidst Digital Transformation

July 14, 2023

Understanding Blockchain: The Technology Behind Cryptocurrencies

April 21, 2023

The Risks and Rewards of Trading Cryptocurrencies

April 17, 2023
Add A Comment

Comments are closed.

Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

The latest news about Bitcoin, ICO, blockchain and fintech.

Top Insights

Thailand Imposes Taxes on Overseas Earnings of Crypto Traders – Impact on Foreign Investment?

September 19, 2023

BNB.WIN

September 19, 2023

The Crypto Chronicles: Unlocking the Power of PR Agencies in Nottingham

August 1, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
  • About Us
© 2023 cryptodailynews24.com Submit news release

Type above and press Enter to search. Press Esc to cancel.