Bakkt Pivots Hard: Dumps Loyalty Biz to Go All-In on Crypto Boom
Wall Street’s favorite crypto play just got sharper teeth—and shed some dead weight.
Bakkt—the institutional crypto platform that once promised to 'unlock' Bitcoin for traditional finance—just axed its legacy loyalty rewards division. The move screams one thing: doubling down on digital assets as the real money-maker.
From Points to Pumps
Gone are the airline miles and Starbucks points. Now it’s all about custody, trading, and that sweet institutional liquidity. Because why bother with punch cards when you can ride Bitcoin’s volatility like a degenerate hedge fund?
The Cynic’s Take
Another day, another fintech ‘pivot’—this time with extra buzzword bingo. But hey, at least they didn’t announce an NFT loyalty program. Progress.
One thing’s clear: Bakkt’s betting the house on crypto’s staying power. Whether Wall Street actually cares? That’s the real trade.
