Bakkt has announced a significant 27% year-over-year increase in its Q3 revenue, reaching $402.2 million, as the company expands its crypto services. Despite a net loss of $21.6 million, attributed to a $37.2 million non-cash charge, Bakkt's adjusted EBITDA showed a positive turnaround, improving to $28.7 million from a previous $20.4 million loss. The company has restructured its operations into three distinct units: Bakkt Markets, Bakkt Agent, and Bakkt Global. This strategic move, along with the elimination of its Up-C share structure, aims to streamline operations and enhance its appeal to institutional investors.