Bakkt (ticker: BKKT), a crypto platform owned by the New York Stock Exchange, announced the appointment of tech entrepreneur Mike Alfred to its board of directors, sending the company's shares soaring more than 40% in intraday trading on Monday. As of 2:23 p.m. ET, its shares were trading at $14.95, up 43% in a single day.
Mike Alfred is a well-known figure in the field of digital assets. He is currently the founder and managing partner of investment agency Alpine Fox, and serves as a board member of bitcoin mining company Iren. His co-founded digital asset data company Digital Assets Data was acquired by New York Digital Investment Group in 2020. The market sees his appointment as an important signal for Bakkt to strengthen its institutional strategy, driving the stock price to rebound sharply. It is worth noting that in July this year, Bakkt's share price fell by 40% in a single day due to the announcement of a $75 million public offering plan (part of the funds were used for bitcoin acquisition). This rally partially repaired the previous decline.
Mike Alfred said that Bakkt is expected to build an institutional-grade fintech platform around the four major trends of digital asset trading, stablecoin payments, AI agents, and bitcoin in the next decade.
Bakkt appoints new directors, sending share price soaring more than 40% in a single day
2025-09-22 21:30:30
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