Bakkt Holdings (ticker BKKT) shares rose more than 40% on Monday after saying that tech entrepreneur Mike Alfred will serve on its board of directors.
“Mike’s proven track record and reputation in the digital asset and fintech ecosystem brings unparalleled expertise, a powerful network and institutional credibility,” Bakkt CEO Akshay Naheta said in a statement. “His perspectives will be critical as we execute with precision on our strategy and deliver long-term value for our shareholders.”
Alfred is well known across the digital assets sector as the founder and managing partner of Alpine Fox. He also serves on Bitcoin miner Iren’s board of directors. Before that, Alfred co-founded Digital Assets Data, which New York Digital Investment Group acquired in 2020.
“Bakkt has a unique opportunity to deliver a trusted fintech platform for institutions in four transformative trends over the next decade: digital asset trading, stablecoin payments, AI agents and Bitcoin,” said Alfred. “I look forward to partnering with the board and leadership to advance Bakkt’s strategy and value creation.”
Bakkt’s shares were changing hands 43% up at $14.95 as of 2:23 p.m. ET, according to Yahoo Finance.
In June, Bakkt said it wanted to raise up to $1 billion through equity and debt offerings to fund a bitcoin acquisition strategy. The next month, the company unveiled a $75 million public offering, with proceeds earmarked in part for bitcoin purchases. Bakkt’s shares fell 40% on that news.
Founded in 2018, Bakkt provides enterprise solutions for businesses working in crypto.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
