Due to the continued decline in stock prices, Bakkt received a delisting warning from the New York Stock Exchange

ChainCatcher news, according to The Block, Bakkt faces the risk of delisting from the New York Stock Exchange (NYSE) as its stock price falls below the $1 threshold. Bakkt is a cryptocurrency platform created by the Intercontinental Exchange (ICE), which owns two-thirds of its shares.

Bakkt announced on Wednesday that the New York Stock Exchange issued a notice stating that "the company does not comply with the provisions of Section 802.1 C of the NYSE Listed Company Manual. Because as of March 12, 2024, the average closing price of the company's Class A common stock has been below $1.00 per share for a consecutive 30-day trading period. This notice will not immediately result in the delisting of its common stock from the New York Stock Exchange."

It is reported that on March 13, Bakkt responded to the New York Stock Exchange, stating its intention to address the issue of its stock price being below $1 and to restore compliance with the NYSE's continued listing standards. Bakkt's stock closed at $0.5978 on Wednesday, with a market capitalization of only $80 million, far below the trading price of $40 per share in October 2021.