Bakkt Dumps Loyalty Biz, Goes All-In on Crypto—And Now It’s Selling Shares

Bakkt just ripped off the band-aid. The institutional crypto platform—once best known for its loyalty points business—has officially gone full degen. Selling its legacy operations and pivoting hard into digital assets, the company's now betting the farm on Bitcoin's resurgence.

Wall Street's latest crypto convert

Fresh off unloading its loyalty division (price tag conspicuously absent—probably for the best), Bakkt's pulling a classic pivot-to-survive maneuver. The move comes as institutional interest in crypto hits new post-FTX highs—though whether that's FOMO or actual conviction remains to be seen.

Shareholders along for the ride

In true 2025 fashion, the company's offering equity alongside its crypto gamble. Because nothing says 'belief in decentralized finance' like good old-fashioned stock certificates. The offering's timing? Impeccable—just as Bitcoin flirts with $100K again.

One thing's clear: Bakkt's not hedging anymore. Whether this moonshot lands or crashes harder than a Terra stablecoin depends entirely on crypto's next act.