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If concluded, the deal would wind down Bakkt's custody services, which have been struggling to gain traction.
The exchange recently disclosed severe liquidity issues in a regulatory filing and said it was uncertain whether it could continue operating.
Bakkt now supports only 8 cryptocurrencies including Bitcoin, Ethereum, Litecoin, Shiba Inu and Dogecoin.
Bakkt is a digital asset platform that provides secure and regulated infrastructure for buying, selling, storing, and spending cryptocurrencies.
