Bakkt Expands Global Bitcoin Play With 30% Stake in Japan's Marusho Hotta
Bakkt (BKKT), the technology firm that went all-in on crypto, has signed a deal to acquire nearly one-third of Japanese trading company Marusho Hotta (8105), in a move that could signal a broader international bitcoin (BTC) strategy for the U.S.-based digital asset platform, the company said in a press release Wednesday.
Under the agreement with RIZAP Group Inc., Bakkt will acquire roughly 30% of the Tokyo-listed company, positioning itself as Marusho Hotta's largest shareholder.
Pending shareholder approval, Marusho Hotta will be renamed bitcoin.jp, aligning its brand with its new bitcoin-centric direction, the company said. Bakkt has also secured the domain bitcoin.jp as part of the deal.
In a strategic leadership shift, Phillip Lord, President of Bakkt International, will take over as CEO of Marusho Hotta.
Meanwhile, bitcoin treasury firm BitBridge Capital Strategies has completed its merger with Green Mountain Merger Inc., the company said in a press release yesterday.
The company will start trading under the ticker symbol BTTL on the over-the-counter (OTC) markets by the end of the third quarter, with plans to uplist to NASDAQ thereafter.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Sony Raises Annual Profit Outlook As Trump's Tariffs Pose Less Risk
PlayStation parent Sony Group (NYSE: SONY) stock gained on Thursday after it reported its fiscal first-quarter 2025 results. The company reported a quarterly consolidated sales growth of 2% year-on-year to $18.13 billion (2.62 trillion Japanese yen). EPS of 30 cents (42.84 yen) beat the analyst consensus estimate of 23 & Network Services (G&NS) revenue increased 8% to 936.5 billion yen, and operating income rose 127% to 148.0 billion yen. Music revenue rose 5% to 465.3 billion yen, and operating income increased by 8% to 92.8 billion yen. Pictures revenue decreased by 3% to 327.1 billion yen. Operating income improved by 65% to 18.7 billion yen. Entertainment, Technology & Services (ET&S) revenue declined by 11% to 534.3 billion yen, and operating income decreased 33% to 43.1 billion yen. View more earnings on SONY Imaging & Sensing Solutions revenue (I&SS) rose 15% to 408.2 billion yen, and operating income increased 48% to 54.3 billion yen. Consolidated operating income rose 36% to 340 billion yen. The net income grew 23% to 259 billion yen. Sony sold 2.5 million PS5 units in the quarter, compared to 2.4 million a year ago and 2.8 million in the preceding quarter. It held 1.6 trillion yen in cash and equivalents as of the end of June. Outlook Sony reiterated fiscal 2025 sales of $81.8 billion or 11.7 trillion yen, versus the 12.2 trillion yen analyst consensus estimate. It expects an operating income of 1.33 trillion yen (prior 1.28 trillion yen) after tariff impact, citing expectations of a minor impact from U.S. President Donald Trump's trade war. The company expects EPS of $6.78 (prior $6.50). It expects higher game business profits, driven by network services sales and favorable exchange rates. The stock is up 18% year-to-date, reflecting its transformation as an entertainment giant spanning games, movies, and music as well as a leading maker of image sensors for smartphones. Sony is also preparing to reduce its stake in its financial unit to below 20% by partially spinning off the business, which will list in Tokyo on September 29. Price Action: SONY stock is trading higher by 4.45% to $26.03 premarket at last check Thursday. Photo by RYO Alexandre via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Sony Raises Annual Profit Outlook As Trump's Tariffs Pose Less Risk originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Boston Globe
26 minutes ago
- Boston Globe
Ski and snowboard passes, a new Seattle hotel, and a lightweight pack for hiking adventures
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Pats Peak lets you secure an early-season rate on one of 10 different pass options through Aug. 18. Pats Peak Advertisement THERE Advertisement A new Seattle hotel with a luxury feel and nature-based vibe Feel connected to nature in the middle of a bustling city at 1 Hotel Seattle, a new hotel in the South Lake Union neighborhood that's within eyeshot of the Space Needle and within walking distance of the Museum of History and Industry on Lake Union and the Pike Place Market area less than a mile away. The hotel, formerly the Pan Pacific Seattle, has an earthy yet upscale Pacific Northwest feel with wooden room keys, mossy wall murals, driftwood sculptures, a giant chandelier made of lichen in the gift shop, and live-edge tables throughout, plus numerous potted plants and a wonderful woodsy aroma in the lobby. Sit on a fur-lined chair in the lobby and enjoy locally distilled spirits from Drift, the onsite bar, and enjoy a creative fusion of Mediterranean, Spanish, and Japanese cuisine at La Loba restaurant. The hotel, part of the Starwood Hotels group, has 108 rooms and 45 suites. Each one has a tree branch-style coat rack on the wall, furnishings made from reclaimed wood, plants, a faucet with filtered water in the bathroom, and a small wooden board that explains the hotel's '1 Less Thing' program, offering guests a chance to leave behind unneeded clothing that will be donated to a local family shelter. The hotel has an outdoor patio with Space Needle views, but cozier furniture in little sitting areas overlooking a two-story mural made from moss, sticks, and leaves. The onsite gym, called the Field House, has Peloton bikes, free weights, and cardio machines, but guests also get free access to sessions at DRYP Yoga Studio across the street. Advertisement The new 1 Hotel Seattle, located in the South Lake Union neighborhood and within eyeshot of the Space Needle, has an earthy yet upscale Pacific Northwest feel. 1 Hotel Seattle EVERYWHERE A lightweight pack for hiking adventures When it comes time to pack up all your favorite gear and hit the trail, consider Gregory's new Paragon (men's) or Maven (women's) lightweight backpack. One of my favorite features: The FreeFloat hipbelt, which enables the pack to fit securely at your hips yet move freely from the pack's frame for added comfort over the trail miles. The honeycombed Air-Cushion mesh back panel allows for great air flow when temps — or efforts — spike, helping to keep the pack off your back and the air circulating. Each pack has an adjustable torso and hipbelt (great for growing kids), two zippered pockets in the lid and on the hipbelt, mesh water bottle sleeves, a mesh stuff pouch up front for stashing rain gear, a whistle, and an internal pouch for your hydration bladder. It also comes with a zippered bottom compartment — offering a second access point — and color-coded side straps that make it easier to pair up straps correctly. The other top feature: An easy-access pocket on one shoulder strap with a built-in elastic bungee that's specifically designed to hold your Garmin inReach Mini or Messenger (or any small satellite communicator) — perfect for keeping it within reach but from bouncing around while you hike. The Paragon comes in 50, 60, and 70 liters (ranging from 3.3 to 3.8 pounds), while the Maven is available in 48, 58, and 68 liters (3.2 to 3.6 pounds). $239.95-$289.95. KARI BODNARCHUK Kari Bodnarchuk can be reached at
Hypebeast
28 minutes ago
- Hypebeast
Dual Moods: How Ciguë Splits Light and Shadow at 12 Matcha's Manhattan Flagship
Summary French design firmCiguëhas transformed a historic NoHo storefront at 54 Bond Street into the flagship for12 Matcha. Spanning two levels of the building's 1870s cast-iron façade, the design places a long service bar and ordering area on the ground floor, with a secluded seating lounge and intimate tasting room below. By retaining original Douglas fir floorboards and highlighting the building's bank-turned-theatre heritage, Ciguë roots the contemporary matcha experience in Manhattan's architectural past. A carefully calibrated material palette balances urban grit with organic warmth: walls wrapped in green-toned clay evoke fresh tea fields, while a dark green-enameled lava stone bar anchors the ground level. Three oversized glass vessels filled with Japanese Binchotan charcoal make the water-filtration process visible, turning a functional element into a sculptural centerpiece. Custom furnishings combine hand-applied green lacquer, brushed stainless steel shelving, and minimalist concrete surfaces, reflecting matcha's ritualistic purity and reinforcing the café's sensory focus. Cigüe divided the interior into two moods, with the upstairs being more open and right, while the lower floors emphasized a more intimate and moody environment. Slatted window shades filter natural light to mimic Japanese tea-field ambiance, while a walnut staircase leads guests to a glass-enclosed tasting lab, where an oval light fixture and steel bar chairs frame an enamel-stone table.
