Odaily Planet Daily News: Nasdaq-listed company Bakkt (NASDAQ: BKKT) announced that it will sell its loyalty points business for $11 million, fully transforming into a "pure crypto infrastructure company". The buyer is Project Labrador Holdco, a subsidiary of Roman DBDR Technology Advisors. The transaction is expected to be completed in the third quarter of 2025.

At the same time, Bakkt announced that it would conduct a public offering by issuing Class A common stock and/or prepaid warrants to purchase Bitcoin, supplement working capital and meet general corporate purposes. The company said that this move marks a key stage in its transformation to a pure encryption route. According to preliminary data, Bakkt's second-quarter encryption revenue is expected to be US$568 million to US$569 million. (CoinDesk)