BAKKT Futures Exchange CEO Considers The Senate Seat Position

Bakkt Futures exchange CEO Kelly Loeffler was offered a seat position in the Georgia Senate by Governor Brian Kemp so we are trying to find out whether the CEO will take it in today’s latest altcoin news.

The Bakkt Futures exchange CEO will displace the offered candidate, US Rep. Doug Collins, going on the opposite of all expectations for appointing the long-serving congressman. The appointment has the goal to build up a female presence in the Georgia senate by building the party’s appeal to women as per the AJC reports. Loeffler will become the second woman in history to serve the Senate for the state of Georgia, replacing Johnny Isakson, the republican senate member.

Loeffler could become more popular for her political role than her role as a financial executive. The name of the Bakkt exchange could even grow and her appointment is expected to become announced early next week, shifting the last-minute changes. Kelly’s application was really a surprise for most, applying only hours before the deadline. The seat for Loeffler will be disputed and may be of interest to a few Republican and Democrat candidates as well. The potential appointment of the Bakkt CEO was met with hostility since the Collins candidature was seen as favorable and supported by the US President.

The appointment comes only a few days after Bakkt improved its strength and grew in volume, influencing the entire bitcoin ecosystem. The Bitcoin futures volumes are reacting to the heightened speculation and offer a counter-balance and inviting the mainstream buyers.
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Currently, it is still unknown how the political acceptance of Loeffler will affect the reputation of the exchange. The BTC market is removed from politics thus focusing more on price discovery and the battle of bears and bulls.

With the Bakkt futures, the traders may choose to roll over the contract rather than taking delivery. The past week saw a series of volume and open interest records on Bakkt but the growth remains volatile. The bitcoin futures market became more influential, swaying the bitcoin price based on the dollar-denominated speculation. The number one cryptocurrency dropped to $7,482 and still aims to establish a ground above the $7,800 level and to rally further.