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Bakkt appoints co-CEOs, plans to cut costs and focus on payment and Crypto Assets business.
Golden Finance reports that Bakkt has appointed Akshay Naheta as its co-CEO and is shifting some business to enable the company to focus on its payment and Crypto Assets business. Naheta will work alongside current CEO Andy Main, who founded Distributed Technologies Research. Bakkt plans to sign a commercial agreement that combines DTR's payment technology infrastructure with the company's Crypto Assets trading and brokerage services. Additionally, Bakkt stated that it is considering selling or shutting down its loyalty business unit.