BKKT

Bakkt reported Q1 net loss of $0.41 per share with revenue declining 77% year-over-year to $243.6 million, attributed to lower crypto trading volumes. The company is pivoting its strategic focus toward stablecoin infrastructure. The sharp revenue drop signals significant deterioration in its core trading business.

Bakkt has completed its acquisition of stablecoin payments firm Distributed Technologies Research (DTR), a deal first announced in January involving 9.3 million shares. The transaction is accompanied by a corporate name change to Bakkt Inc. The deal positions Bakkt further into the stablecoin payments space.

Bakkt has completed its acquisition of Distributed Technologies Research (DTR), combining Bakkt's regulated institutional infrastructure with DTR's agentic technology and compliance stack. The deal is positioned to target the global payments market, cited at $44 trillion. No financial terms of the transaction were disclosed in the announcement.