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Bakkt President Adam White is leaving crypto trading platform at the end of the year



The Bakkt boss has not yet disclosed whether he will continue to work in the crypto industry.


Adam White, the president and founder of the institutional Krytpo trading platform Bakkt, is leaving the company after three years in office.


As White on Twitter telling , he appears at the end of his post as Operating Officer (COO) and president back, and also says goodbye to the trading platform. In 2018, White moved from the leading crypto exchange Coinbase, where he was Vice President and General Manager, to Bakkt to play a key role in building it up. The outgoing president has not yet announced what his future career plans look like and whether he will stay in the crypto industry at all.


"It was a pleasure to work at the intersection between the crypto market and capital markets and to see how the industry is slowly creating the balance between innovation and regulation," said White in his farewell statement. He adds: "There is still a lot to be done, but I've never been so optimistic that it will work out as I am now."


Bakkt was founded in 2018 by the influential stock exchange operator Intercontinental Exchange (ICE), which operates, among other things, the major New York Stock Exchange (NYSE). The platform had to struggle with starting difficulties again and again. It was originally designed as an important hub between the crypto industry and institutional investors, but then switched to private investors and only offered derivatives based on Bitcoin futures ( BTC ) for institutions. Accordingly , the management changed frequently in a short time, with influential figures such as the former PayPal manager Mike Blandina and the former US Senator Kelly Loeffler and ICE boss David Clifton have put the handle in the hand.



In October 2021, Bakkt went public through a so-called Special Purpose Acquisition Company (SPAC), in this case VPC Impact Acquisition Holdings. The platform's share is listed on the New York Stock Exchange under the ticker BKKT. While a market value of over 30 US dollars was achieved shortly after the start , the Bakkt share is recently only 9.06 US dollars.

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