Bakkt's stock price drops 35% as it loses two major clients, Bank of America and Webull

According to BlockBeats, on March 18th, Bakkt Holdings (BKKT), a cryptocurrency trading and custody company, disclosed that both Bank of America (BAC) and Webull Pay will not renew their contracts, causing their stock prices to plummet 35% to $12.83 after trading on Monday. According to the agreement, Bank of America's contract will terminate on April 22nd, while Webull's collaboration will end on June 14th. In addition, Bakkt has applied to the US Securities and Exchange Commission (SEC) for an extension to submit its 2024 annual report.