Welcome to our dedicated page for Bakkt news (Ticker: BKKT), a resource for investors and traders seeking the latest updates and insights on Bakkt stock.
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 (NYSE: BKKT) has announced the pricing of its public offering, consisting of 6,753,627 shares of Class A common stock at $10.00 per share and pre-funded warrants for 746,373 shares at $9.9999 each. The offering, expected to close around July 30, 2025, aims to raise approximately $75 million in gross proceeds.
The company plans to use the proceeds to purchase Bitcoin and other digital assets, along with working capital and general corporate purposes. Underwriters have a 30-day option to purchase up to an additional 1,125,000 shares. Clear Street LLC and Cohen & Company Capital Markets are serving as joint book-running managers for the offering.
Bakkt Holdings (NYSE: BKKT) has announced plans for a public offering of Class A common stock and/or pre-funded warrants. The company will grant underwriters a 30-day option to purchase up to an additional 15% of the offered securities to cover over-allotments.
The offering will be managed jointly by Clear Street LLC and Cohen & Company Capital Markets. Bakkt plans to use the proceeds to purchase Bitcoin and other digital assets, along with working capital and general corporate purposes. The offering is being made through a shelf registration statement on Form S-3 that was declared effective by the SEC on July 3, 2025.
Bakkt (NYSE:BKKT) has announced preliminary Q2 2025 financial results and a definitive agreement to sell its Loyalty business to Project Labrador Holdco, LLC. The company estimates total revenues of $577-579 million, with crypto revenues accounting for $568-569 million and loyalty revenues of $9-10 million.
The sale of the Loyalty business, expected to close in Q3 2025, includes $11 million in monetary accommodations plus additional adjustments. This divestiture marks Bakkt's transformation into a pure-play crypto infrastructure company, allowing it to focus on core crypto offerings and stablecoin payments infrastructure.
The company reports available cash and restricted cash of $60-62 million, with access to an undrawn $40 million credit facility. Net cash used in operating activities is estimated at $13-15 million for Q2 2025.
Bakkt (NYSE: BKKT) reported strong Q1 2025 financial results, with net income of $16.2 million, up 176.5% year-over-year. The company entered a strategic cooperation agreement with Distributed Technologies Research (DTR) to access AI and stablecoin payment infrastructure, with a commercial agreement expected by Q3 2025. Total revenues reached $1.07 billion, up 25.8% year-over-year, while crypto-enabled accounts grew to 6.8 million, up 7.9%.
The company strengthened its leadership team with Ankit Khemka as Chief Product Officer and Phillip Lord as President of Bakkt International. Assets under custody increased 52.5% year-over-year to $1.87 billion. The company is conducting a strategic review of priorities and organizational structure to drive cost efficiencies and suspended quarterly guidance pending the DTR integration.
Summary not available.
Bakkt Holdings (NYSE: BKKT) has granted equity inducement awards to its newly appointed Co-Chief Executive Officer Akshay Naheta, effective March 21, 2025. The inducement package includes:
- 1,607,717 Performance-Based Restricted Stock Units (PSUs)
- 11,426 Restricted Stock Units (RSUs)
The RSUs will fully vest on March 21, 2026, contingent on Naheta's continued employment. The PSUs have a performance period through March 21, 2028, with vesting tied to stock price appreciation targets. One-third of PSUs will vest if Bakkt's stock price rises 100% above the reference price of $9.33, with additional vesting opportunities for every 25% price increase thereafter, up to eight additional tranches.
Bakkt Holdings (NYSE: BKKT) has announced the appointment of Akshay Naheta as co-CEO, effective March 21, 2025, who will serve alongside current CEO Andy Main. Naheta brings over 20 years of experience from senior executive roles at SoftBank Group and is the founder of Distributed Technologies Research (DTR).
The company also revealed plans to enter a commercial agreement with DTR to integrate their stablecoin-based payments technology infrastructure with Bakkt's crypto trading and brokerage technology, subject to regulatory approvals. This strategic partnership aims to unlock new revenue streams in crypto trading and stablecoin payments, while enhancing efficiency in the cross-border payments market.
The integration is expected to transform Bakkt from a leading crypto technology platform and liquidity provider into a more comprehensive, utility-based, institutional digital assets trading and payments platform.
Bakkt Holdings (NYSE: BKKT) reported strong Q4 and full-year 2024 results, with Q4 trading volumes surging 465% sequentially and 778% year-over-year. The company's Q4 total revenue increased 737.9% year-over-year to $1.79 billion, while net loss improved 48.7% to $40.4 million.
Key highlights include:
- Crypto enabled accounts grew 8.1% YoY to 6.7 million
- Assets under custody increased 228.1% YoY to $2.3 billion
- Total transacting accounts rose 6.5% YoY to 974,429
The company announced significant strategic changes: appointing Akshay Naheta as co-CEO, partnering with DTR for stablecoin payments, selling Bakkt Trust to ICE for $1.5 million, and exploring strategic alternatives for its Loyalty business. However, Webull, representing 74% of crypto revenues, will not renew its contract ending mid-June 2025, and Bank of America is not renewing its loyalty services agreement ending April 2025.
Bakkt Holdings (NYSE: BKKT) has announced a rescheduling of its fourth quarter and full year 2024 earnings release and conference call. The company will now host the earnings conference call on Wednesday, March 19, 2025, at 5:00 P.M. ET.
Investors and analysts can participate by joining the webcast at the provided link or by dialing (833) 470-1428 or (404) 975-4839 with access code 796835. The conference call will be archived on Bakkt's investor relations website under 'Events & Presentations' along with related earnings materials.