🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
Bakkt faces a collective lawsuit from investors
BlockBeats news, on April 5th, the American encryption custody and trading platform Bakkt was collectively sued by investors, accusing it of making false or misleading statements without adequately disclosing its revenue's heavy reliance on key clients such as Webull. The lawsuit was led by investor Guy Serge A. Franklin and filed on April 2nd in the Southern District Federal Court of New York, seeking a jury trial. The plaintiffs claim that Webull contributed 74% of Bakkt's encryption service revenue from 2023 to 2024, while Bank of America accounted for 17% of its loyalty service revenue in the first three quarters of 2024. The termination of cooperation between the two companies will lead to a 73% drop in the company's overall revenue. The defendants also include the company's former CEO Gavin Michael, current CEO Andrew Main, and interim CFO Karen Alexander. Investors believe that Bakkt failed to timely disclose the risks of contract termination with key clients, violating U.S. securities law, resulting in significant losses.