Bakkt's Cryptic Collapse

Bakkt Faces Class-Action Lawsuit Over Webull Trading Dispute

A class-action lawsuit has been filed against Bakkt, a digital asset platform, over a dispute with Webull, a mobile-first brokerage firm. The lawsuit alleges that Bakkt failed to provide a secure and reliable trading experience to its customers, resulting in significant financial losses.

According to the complaint, Bakkt's platform experienced a series of technical issues, including trading halts and delayed order executions, which caused customers to lose millions of dollars. The lawsuit claims that Bakkt was aware of these issues but failed to take adequate measures to prevent them.

The class-action lawsuit seeks to represent all customers who traded on Bakkt's platform and suffered losses as a result of the technical issues. The plaintiffs are seeking compensatory damages, as well as punitive damages, to punish Bakkt for its alleged negligence.

Bakkt has not commented on the lawsuit, but a spokesperson for the company stated that it takes the concerns of its customers seriously and is committed to providing a secure and reliable trading experience.

The lawsuit is the latest in a series of disputes between Bakkt and its customers. In recent months, the company has faced criticism over its trading fees, customer support, and platform stability. The lawsuit is a significant development in the ongoing controversy surrounding Bakkt's business practices.

The case is currently pending in a federal court in New York. A hearing is scheduled for later this month to determine whether the lawsuit will be certified as a class-action.