Bakkt Holdings Inc

Bakkt Holdings reported second-quarter 2026 results and reiterated its full-year total transacting volume target of approximately $2.5 billion. CEO Akshay Naheta stated that the company expects to reach adjusted EBITDA break-even at some point during the fourth quarter of 2026, contingent on the timing and scale of client activations. The company posted GAAP net income of $80.8 million and diluted earnings per share of $1.94, with cash and restricted cash of $50.7 million and no long-term debt. Payments entered total transacting volume for the first time, and management highlighted plans to launch co-branded card programs and Neobank-as-a-Service in the fourth quarter, subject to approvals. Bakkt also set an initial target of approximately 25,000 monthly active users by year-end.

Treasury Secretary Scott Bessent said the Clarity Act is at the '1-yard line', urging Congress to pass the landmark bill before recess, which sent bitcoin and other cryptocurrencies higher on Tuesday. Bitcoin rose 2.08% to $66,559, Ethereum added 1.00% to $1,922, and Dogecoin gained 1.62% to $0.073. Crypto stocks surged, with Cipher Digital up 18.01% to $24.24, Coinbase Global up 11.70% to $179.20, Riot Platforms up 8.64% to $21.62, Robinhood Markets up 8.58% to $107.80, MARA Holdings up 8.10% to $12.62, Circle Internet Group up 7.90% to $70.62, Hut 8 up 7.81% to $108.81, CleanSpark up 7.66% to $15.53, Bullish up 6.83% to $24.24, Figure Technology Solutions up 6.31% to $32.34, Bakkt up 5.22% to $8.26, IREN up 4.71% to $42.10, Gemini Space Station up 4.33% to $4.70, and Strategy up 3.67% to $101.41.