BAKKT CEO Appointed As US Senator

Kelly Loeffler, the current CEO of Bitcoin derivatives provider Bakkt will replace Senator Johnny Isakson of Georgia.

The news was confirmed last week by the Wall Street Journal and the Washington Post. Loeffler will take office January 1, 2020, but current senator Isakson was initially scheduled to leave office in January 2023, which means Loeffler will have to contest another election next year if she would like to serve as a Senator past January 2021.

As reported by Politico, Loeffler is a Republican, and has support from some big hitters like Majority Leader Mitch McConnell (R-KY). In her opening speech, Loeffler bring up Bitcoin, but instead touched on some of Trump's issues, like the border wall, which she stated she was in support of.

It is still unknown who Bakkt's next CEO will be, as Loeffler has only a few days before assuming her new role as a senator on January 1, 2020.

Most think the obvious choice would be former Coinbase executive and current COO of Bakkt, Adam White.

This article is not intended to be financial advice. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Crypto Block does not provide investment, tax, legal, or accounting advice.

As always, do your due diligence before investing, and never invest more than you can afford to lose.

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