The now former president did not reveal what his next move would be, or whether he would continue to work in the cryptocurrency industry.
Bakkt is a cryptocurrency-focused institutional investment firm that was spun out of Intercontinental Exchange, or ICE — an operator of large, regulated exchanges such as the New York Stock Exchange.
In September 2019, the firm launched its much-anticipated Bitcoin (BTC) futures trading platform. While the initial launch was underwhelming, with relatively low volume given the hype, Bakkt announced additional products in the following months such as fully regulated BTC options trading, cash-settled futures and a partnership with Starbucks.
Since its announcement, Bakkt has caught the attention of the crypto industry, as it marks a serious effort by the world’s largest exchange to onboard institutional investors into the burgeoning crypto asset class.
The firm also generated buzz in the industry after former CEO Kelly Loeffler became the first Republican woman to represent the state of Georgia in the United States Congress where she is expected to support crypto-friendly regulation.
Bakkt’s share price surged by 120% during Monday’s trading session on the heels of fresh partnerships with global payments firms.8283
The price of BKKT contracted by more than 6% during its first day of public trading.7263
Starting Oct. 18, Bakkt’s common stock and warrants will be listed on NYSE under the ticker symbols “BKKT” and “BKKT WS,” respectively.7273
Millions of retailers currently accept Google Pay as a form of payment, potentially giving Bakkt users the ability to pay in crypto at a variety of stores and online markets.10787
Quiznos customers will soon be able to pay in Bitcoin via Bakkt's app at certain Colorado locations.1994
Institutional inflow to crypto is only getting started, but the technology promises to improve the futures markets beyond crypto.6891
Touted for its ability to allow users to "leverage the digital assets in their day-to-day lives,” the Bakkt Visa debit card is now available for online and in-store purchases.5917
Intercontinental Exchange has sold its 1.4% stake in Coinbase to reduce the company’s debt.7744
Bakkt believes its new crypto payments app will unlock more than $1 trillion worth of digital assets for commerce.8549
Bakkt will also have a money transmitter license in the state of New York.12828
As Bakkt prepares to be listed on the NYSE, even more crypto companies could be going public in the future.24263
Bakkt's CEO did not mention whether the company decided to stay away from XRP due to Ripple’s ongoing legal issues.15823
ICE's institutional exchange, Bakkt, will launch on stock markets at a possible $2.1 billion valuation.12351
Regulated Bitcoin futures platform Bakkt is reportedly eyeing going public through a rumored merger.15094