Fireblocks Trust Company has launched a strategic partnership with crypto industry leaders Galaxy, Bakkt, FalconX, and Castle Island to address the surging institutional demand for regulated digital asset custody. Operating under New York Department of Financial Services oversight, this collaboration establishes a comprehensive custody framework designed to support institutional products including ETFs, digital asset treasuries, and token launches while prioritizing regulatory compliance and security.
about Fireblocks Teams with Galaxy, Bakkt for Institutional Crypto CustodyBakkt
0 in Finance and 0 in Crypto last weekBakkt Stock Soars 17% as Benchmark Triples Price Target to $40
Bakkt Holdings stock surged 17% on Tuesday after Benchmark Company more than tripled its price target to $40, validating CEO Akshay Naheta’s strategic repositioning of the digital asset platform. The investment bank highlighted significant growth potential across Bakkt’s core crypto businesses, calling the stock’s recent 170% rally over two weeks a clear endorsement of the company’s new direction under Naheta’s leadership since August.
about Bakkt Stock Soars 17% as Benchmark Triples Price Target to $40Fold’s Bitcoin Rewards Card with Visa & Stripe
Fold Holdings unveiled a landmark Bitcoin rewards credit card, promising seamless crypto earnings through partnerships with Visa and Stripe. Yet, the announcement was met with a stark market rejection, as the company’s stock (FLD) plunged more than 14% on the day. The disconnect between the ambitious product launch and the negative investor sentiment highlights the volatile and competitive pressures facing crypto-finance hybrids.
about Fold's Bitcoin Rewards Card with Visa & StripeBakkt Stock Soars 40% as Crypto Veteran Joins Board
Bakkt Holdings saw its share price surge more than 40% on Monday following the announcement that crypto industry veteran Michael Alfred is joining its board of directors. The appointment signals Bakkt’s intensified focus on digital asset infrastructure as the company undergoes significant restructuring. Alfred brings substantial credibility from his track record at Digital Assets Data and investments in prominent crypto firms.
about Bakkt Stock Soars 40% as Crypto Veteran Joins BoardBakkt Shifts Focus to Crypto, Sells Loyalty Unit
Bakkt is divesting its loyalty rewards division to Project Labrador for $11 million, reclassifying it as a discontinued operation to sharpen its focus on crypto services like custody, stablecoins, and tokenized assets. The loyalty unit generated just $10 million in Q2 revenue compared to $568 million from crypto operations. Analysts note the shift aligns Bakkt with institutional crypto infrastructure but warn it may struggle to compete with established players like Coinbase. The sale is part of broader restructuring efforts, including a Bitcoin treasury strategy, though some question its short-term impact. Industry observers see the move as a bet on crypto infrastructure as the key growth area.
about Bakkt Shifts Focus to Crypto, Sells Loyalty UnitBitcoin Firm Strategy Faces Copycat Lawsuits as Coinbase Hits Record High
At least five law firms have filed nearly identical class action lawsuits against Bitcoin treasury firm Strategy (formerly MicroStrategy), accusing it of misrepresenting risks tied to its BTC buying plans. Legal experts suggest these filings are a tactic to compete for leadership in the eventual consolidated case, with fees potentially reaching tens of millions. Separately, Coinbase hit an all-time closing high of $375.07, with analysts setting bullish price targets. The exchange also revealed plans to launch U.S.-regulated Bitcoin and Ethereum perpetual futures next month, tapping into a market with billions in daily volume. Additionally, Base, Coinbase’s Ethereum layer-2 network, expanded its wrapped assets to include Cardano and Litecoin, enhancing DeFi interoperability.
about Bitcoin Firm Strategy Faces Copycat Lawsuits as Coinbase Hits Record HighBakkt Files $1B Shelf Registration, Eyes Bitcoin Treasury
Bakkt Holdings, backed by Intercontinental Exchange, has filed a shelf registration with the SEC to raise up to $1 billion through various securities offerings, including stocks, debt, and warrants. The filing also hints at potential Bitcoin acquisitions as part of its treasury strategy, though timing and scale depend on market conditions and operational performance. Despite acknowledging past losses and concerns about its viability, Bakkt aims to leverage favorable market conditions to stabilize its finances and capitalize on digital asset opportunities. The move coincides with a wave of crypto-related IPOs, highlighting growing institutional interest in the sector.
about Bakkt Files $1B Shelf Registration, Eyes Bitcoin TreasuryNY Mayor Adams Urges Bitcoin Biz Return, Scrap BitLicense
New York Mayor Eric Adams used his platform at Bitcoin 2025 to advocate for the repeal of the BitLicense, a regulatory requirement for crypto businesses in the state. Adams, a vocal supporter of cryptocurrency, urged crypto firms to return to New York, framing the Bitcoin movement as a patriotic endeavor akin to Betsy Ross sewing the first American flag. He also proposed the creation of a Bitcoin Bond and highlighted his efforts to make New York a crypto-friendly hub, including hosting the New York Crypto Summit and forming a digital assets advisory council. Adams stressed the need for community engagement to protect the industry from restrictive regulations.
about NY Mayor Adams Urges Bitcoin Biz Return, Scrap BitLicense