TechFlow reported on January 13 that, according to The Block, blockchain infrastructure company Bakkt (NYSE: BKKT) announced plans to acquire stablecoin infrastructure provider Distributed Technologies Research Ltd. (DTR), with the transaction to be completed through the issuance of over 9 million shares of Class A common stock. Notably, Akshay Naheta, founder of DTR, is also the current CEO of Bakkt. Affected by this news, Bakkt's stock price rose 18% on the day, closing at $19.21.
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