Bakkt’s Revenue Falls 77% in Q1 as Stablecoin Pivot Takes Shape

Bakkt swung to a first-quarter loss as crypto services revenue fell 77%, underscoring the digital asset platform’s push to reposition itself around stablecoin payments and AI-enabled financial infrastructure.

On Monday, the company reported a net loss attributable to Bakkt of $11.7 million, or 41 cents per basic and diluted share, for the quarter ended March 31. That compares with net income…