CEO Of Bakkt Kelly Loeffler To Become US Senate Member

The Governor of the US state of Georgia, Brian Kemp, has recently appointed the CEO of Bakkt Kelly Loeffler to a United States Senate seat. As the latest cryptocurrency news show, Loeffler is set to replace the Senator Johnny Isakson (R-GA) who plans to retire at the end of 2019, according to reports from the Washington Post.

The news also show that as a CEO of the institutional Bitcoin (BTC) futures platform Bakkt, Loeffler is filling in the footsteps of Isakson and is excited for the future. One person familiar with the matter told the media outlet the following:

“I haven’t spent my life trying to get to Washington. But here’s what folks are gonna find out about me: I’m a lifelong conservative. Pro-Second Amendment. Pro-military. Pro-wall. And pro-Trump. I make no apologies for my conservative values, and will proudly support President Trump’s conservative judges.”

As we previously reported, different party leaders including the President Donald Trump have been pressing Kemp to choose the US representative Doug Collins instead, given his strong support for Trump, the gun rights and the anti-abortion efforts. However, the CEO of Bakkt got his invite now – and apparently the President and many among his circles are not sold on Kelly Loeffler.

The reports show that Loeffler is seen as “too moderate” and previously, Kemp met with the President and Loeffler in an attempt to obtain an approval of the pick for the Senate seat from Trump himself.

Meanwhile, the CEO of Bakkt is active with many new developments coming in as of recently. The Bitcoin news today show that the Bitcoin futures open interest on the platform recently hit an all-time high of $6.5 million on December 3. The open interest increase was a 42% surge from the previous day which had been an all-time high, too.
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Also, the CEO of Bakkt is preparing the launch of a new regulated options contract for Bitcoin futures on December 9. This new options product is based on customer feedback, as Loeffler explained, and is designed to hedge or gain Bitcoin exposure.

“ICE Futures U.S. has self-certified the contract with the CFTC and we’re excited to leverage the benchmark futures prices and institutional-grade custody to meet the needs for a regulated options contract,” the head of Bakkt said when announcing the new development.