Bakkt, Inc. announced the departure of Chief Financial Officer Karen Alexander, effective August 14, 2026, and appointed Matt White as her successor, effective August 17, 2026. Ms. Alexander will serve as a consultant until December 31, 2026, receiving annualized fees of $400,000 and a separation package including a $200,000 cash payment for the cancellation of unvested equity awards plus up to $160,000 in arbitration recovery incentives. Mr. White receives an annual base salary of $300,000 and inducement awards consisting of 90,000 restricted stock units and 60,000 options with a $10.00 exercise price. Bakkt operates as a regulated financial technology company building infrastructure for the AI and token economy.

Bakkt, Inc. reported second quarter 2026 financial results on August 10, 2026, posting GAAP net income of $80.8 million, or $1.94 per diluted share, compared to a net loss of $14.7 million in the prior year period. The positive result was primarily driven by a $98.5 million non-cash gain from the change in fair value of Transchem warrants received as part of an Indian regulatory approval and strategic investment. Total revenue declined 70% year-over-year to $170.1 million due to client transitions and softness in digital asset trading volumes, though operating expenses excluding crypto costs remained relatively stable at $20.5 million. The company ended the quarter with $50.7 million in cash and no long-term debt. Bakkt operates as a regulated financial technology company building infrastructure for digital assets, stablecoin settlement, and cross-border payments.