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Big adjustments on the Bakkt’s prime administration: ICE’s Vice President, M&A and Integration David Clifton will substitute Bakkt’s present CEO Mike Blandina.
There’s a significant shake-up going down on the top-level administration of ICE‘s Bakkt Digital Asset Platform. Mike Blandina, who joined because the CEO of Bakkt 4 months again, has determined to step down from his position. As per stories, he’s leaving to pursue new alternatives out there.
Mike Blandina at Bakkt
Blandina changed the now U.S. Sen. Kelly Loeffler (R-Ga.) because the Bakkt CEO in December 2019. Earlier, Ms. Loeffler joined the Digital asset platform because the CEO ever since Bakkt’s inception in August 2018.
In an official press launch, Intercontinental Alternate (ICE) stated that they’ve appointed David Clifton as Interim CEO of Bakkt. Presently, Clifton has been working as ICE’s Vice President, M&A and Integration. However, Adam White, the Bakkt President will proceed his position within the firm.
In his new position, Clifton will concentrate on Bakkt’s integration with Bridge2 Options. Bakkt acquired the loyalty program platform Bridge2 Options earlier this 12 months to drive forward Bakkt’s development initiatives. On Clifton’s appointment as the brand new Bakkt CEO, Jeffrey Sprecher, Founder, Chairman and CEO of ICE, said:
“David Clifton has been deeply engaged in lots of our most vital initiatives over time and, after serving to to guide the acquisition of Bridge2 to speed up the rollout of Bakkt’s shopper software, I do know he’ll present excellent management for Bakkt as its Interim CEO. I additionally wish to categorical our gratitude to Mike Blandina for his work to assist develop Bakkt throughout an vital transformational interval for the corporate and need him all the most effective in his new endeavor.”
Bakkt’s Progress Since Inception
The world’s main commodities market participant Intercontinental Alternate (ICE) introduced the launch of its Digital Asset Platform Bakkt in 2018. Since day one ICE’s purpose for Bakkt has been clear. ICE plans to leverage the Bakkt platform for creating institutional in addition to retail participation within the crypto trade.
For institutional gamers, ICE’s Bakt launched its Bitcoin physically-settled Bitcoin futures contracts in august 2019. Being operational beneath the regulatory remark of the SEC, Bakkt’s Bitcoin futures managed to attract substantial institutional curiosity. Bakkt additionally has its personal Warehouse facility to permit individuals to retailer their bodily Bitcoin tokens in a secure and safe method.
On the retail entrance, Bakkt is working with giants like Starbucks. Utilizing Bakkt’s cellular software, customers can straight spend their crypto property for making any purchases at Starbucks.
Final month, Bakkt acquired a whopping $300 million in Collection B funding from ICE. Bakkt used these funds to accumulate Bridge2 Options which will probably be serving to the digital asset supervisor to speed up the event of Bakkt shopper software.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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