Bakkt dey sell loyalty unit to focus on crypto infrastructure
Bakkt don agree sey dem go sell dia loyalty services unit to Project Labrador Holdco, wey be Roman DBDR Technology Advisors pikin company, for $11 million. Di deal wey include working capital, debt and short-term loans, e suppose finish for Q3 2025. Dis move go make Bakkt fit focus on pure-play crypto infrastructure.
For preliminary Q2 results, total revenue rise 13% year-on-year to $577–579 million, crypto services income sef climb 14.2%. Co-CEOs Andy Main and Akshay Naheta dey plan to use di money plus concurrent $75 million public offering for AI-enhanced crypto products, stablecoin payments and active treasury strategy.
After dem lose loyalty and crypto service agreements with Bank of America and Webull and dem stock price don drop 31% since beginning of di year, Bakkt wan rebuild investor confidence. Dem fit use some money buy Bitcoin (BTC). Dis action show say Bakkt dey focused on core crypto infrastructure and stablecoin payments solutions.
Bullish
Dis divestment an strategic reallocation of capital dey show say dem dey serious to make crypto infrastructure an stablecoin payments beta. Di planned $75 million public offering an possible Bitcoin purchase mean say demand for BTC dey fresh. For short term, investor confidence fit improve as Bakkt dey fine-tune dia pure-play crypto model an report solid Q2 growth. For long term, if dem focus on AI-enhanced crypto solutions an active treasury strategy, e fit drive steady adoption an network effects, support wider market stability an make bullish sentiment for Bitcoin stronger.