Bitcoin futures platform Bakkt CEO to take up a US Senate seat following appointment

Kelly Loeffler relinquishes her position as CEO of Bakkt in favor of a Senate appointment.

ICE will appoint an interim CEO ahead of the search for a permanent executive.

The CEO of the first platform to offer cash-settled Bitcoin futures contract, Bakkt is set to vacate the seat in order to take up a United States Senate seat. Kelly Loeffler served as the head of digital assets at ICE before taking up the CEO role in the recently launched Bakkt platform.

Loeffler is recognized for her effort and leadership in leading the established of the first regulated physically-settled Bitcoin futures. Her filling of the Senate seat is seen as a win for cryptocurrencies as she is likely to push for better regulation.

The outgoing Senator is Johnny Isakson, a republican currently going dealing with health problems. She will hold the seat until the primary election is held next year. Moreover, she will have the mandate to run as an incumbent in the elections.

In the meantime, Bakkt will remain in the hands of Loeffler until December 31. However, Bakkt is planning on appointing an interim CEO to allow for the process of finding a replacement. A statement by the ICE said:

“Loeffler will relinquish this post before being sworn in as the next United States Senator from Georgia, with Bakkt’s senior management team continuing to work closely with the ICE senior management team, building on the innovations and progress achieved in the past year,”