Bakkt, Inc. develops regulated financial technology infrastructure for institutions, fintech platforms, and consumer finance products participating in digital assets and programmable finance. Its operating pillars include Bakkt Markets for regulated market access, trading infrastructure, and liquidity; Bakkt Agent for programmable money movement and financial services; and Bakkt Global for international financial infrastructure.
Bakkt news commonly covers operating and financial results, shareholder letters, strategic updates, partnerships with digital asset platforms, and capital-structure actions. Company updates also address digital asset trading access, Bitcoin and tokenization infrastructure, stablecoin payments, AI-enabled finance, cross-border payment capabilities, and regulatory foundations such as U.S. money transmitter coverage and a New York BitLicense.
Bakkt Holdings, Inc. (NYSE: BKKT) will participate in a fireside chat at the Wells Fargo 6th Annual TMT Summit in Las Vegas, NV on November 29 at 11:40 AM ET. Gavin Michael, the President and CEO, will lead the discussion. Interested parties can access a live audio webcast on the company’s website, with a replay available post-event. Bakkt, launched in 2018 and headquartered in Alpharetta, GA, offers a digital asset platform designed to unlock crypto and enhance loyalty programs.
Bakkt Holdings, Inc. (NYSE: BKKT) confirms no exposure to struggling crypto firms like FTX, Gemini, or Genesis, amidst ongoing market contagion. The platform remains fully operational, allowing consumers to buy and sell crypto without interruption. CEO Gavin Michael emphasizes Bakkt's conservative risk management, avoiding leverage and rehypothecation. Moreover, the recent acquisition of Apex Crypto further mitigates exposure risks, enhancing Bakkt's position in the digital asset market.
Bakkt Holdings, Inc. (NYSE: BKKT) will participate in the Oppenheimer 5th Virtual Blockchain & Digital Assets Summit on November 17 at 10:45 AM ET. CEO Gavin Michael will speak on the 'Payments and Remittance' panel. Interested parties can access a live audio webcast via the investor relations section of Bakkt's website. Replays will be available post-event. Bakkt, launched in 2018 and headquartered in Alpharetta, GA, is a digital asset platform that enhances crypto accessibility and loyalty programs.
Bakkt Holdings reported a 41% increase in quarterly net revenue, reaching $12.9 million year-over-year. Digital asset conversion volumes surged by 73%, driven by loyalty redemptions associated with travel. The company announced a definitive agreement to acquire Apex Crypto for up to $200 million, expected to close in the first half of 2023, which will enhance Bakkt's cryptocurrency offerings and client base. Despite revenue growth, Bakkt faced an operating loss of $1,594.9 million due to significant goodwill impairments.
Bakkt Holdings (NYSE: BKKT) has signed an agreement to acquire Apex Crypto from Apex Fintech Solutions for up to $200 million. This acquisition aims to enhance Bakkt's cryptocurrency offerings and expand its client base into sectors like fintechs and neo-banks. The initial payment is $55 million in cash, with additional stock payments contingent on financial targets. The deal, expected to close in the first half of 2023, is subject to regulatory approval. CEO Gavin Michael emphasized the strategic benefits and innovative potential of the acquisition.
Bakkt Holdings, Inc. (NYSE: BKKT) completed its annual impairment testing of goodwill and intangible assets, announcing a non-cash impairment charge of approximately $1.3 to $1.4 billion related to goodwill and $150 to $160 million for certain intangible assets as of September 30, 2022. Despite this, the company asserts no impact on future operations, liquidity, or cash flows. The decline was attributed to slower crypto product activations and decreased market capitalization. Bakkt plans to release its Q3 2022 earnings on November 10, 2022, followed by a conference call.
Bakkt Holdings, Inc. (NYSE: BKKT) will announce its third quarter 2022 earnings on November 10, 2022, before market open. A conference call, scheduled for 9:00 a.m. ET, will discuss the results and answer questions. Investors can dial in at (844) 200-6205 or (646) 904-5544, using participant access code 406638. A replay will be available until December 9, 2022. Bakkt is a digital asset platform that facilitates buying, selling, and storing digital assets.
Bakkt Holdings, Inc. (NYSE: BKKT) has appointed Chip Goodroe as its new Chief Accounting Officer. He brings over 14 years of accounting experience, notably from Grant Thornton LLP, where he focused on audit and accounting advisory for both public and private entities. Goodroe will report to Karen Alexander, Bakkt's CFO, and lead the accounting function, including SEC and regulatory reporting. His expertise in technology and cryptocurrency aligns with Bakkt's mission to enhance consumer spending and loyalty programs through its digital asset platform.
Bakkt Holdings, Inc. (NYSE: BKKT) announced its participation in the 2nd Annual Needham Virtual Crypto Conference. The virtual fireside chat will feature Gavin Michael, President and CEO, on September 8 at 11:45 AM ET. Interested individuals can access a live audio webcast from the investor relations section of www.bakkt.com, with replays available post-event. Bakkt is a digital asset platform focused on enhancing consumer spending and loyalty through its services.
Bakkt Holdings (NYSE: BKKT) has partnered with Sullivan Bank to enhance customer experience by enabling customers to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum via the Bakkt® Crypto Connect platform. This collaboration aims to meet increasing consumer demand for digital assets, providing seamless integration into Sullivan Bank's existing digital banking app. Customers will have the ability to view crypto balances alongside traditional banking balances, reinforcing security and regulatory compliance.