TechFlow News, May 12: According to Cointelegraph, Bakkt released its Q1 2026 financial results, reporting a sharp 77% year-on-year decline in crypto services revenue—from $1.07 billion in the same period last year to $243.6 million. The company posted a net loss of $11.7 million ($0.41 per share), compared to a net profit of $7.7 million in the prior-year period. Following the announcement, Bakkt’s pre-market stock price fell by 9.14%.
Regarding business transformation, Bakkt completed its acquisition of Distributed Technologies Research on April 30, integrating an AI-native payment engine and a stablecoin compliance framework. Additionally, Bakkt signed a memorandum of understanding with stablecoin service provider Zoth, aiming to expand into South Asia, the Middle East, and Sub-Saharan Africa, with an annualized payment volume target of $1 billion.
