Bakkt Investors Sue After Loss of Key Contracts with Webull and Bank of America

A class-action lawsuit has been filed against cryptocurrency custody firm Bakkt Holdings by investors who allege false statements and a lack of transparency regarding their contracts with Webull and Bank of America. The suit, filed in the US District Court for the Southern District of New York, claims damages resulting from violations of securities laws due to the termination of these agreements. According to the complaint, this loss will result in a significant reduction of Bakkt’s revenue, impacting its overall profitability.