Bakkt CEOs
When Bakkt was formed by its parent company the InterContinental Exchange (ICE), Kelly Loeffler took charge as the firm’s CEO. Shortly after she done so, she took a place in the United States senate and was replaced by Mike Blandina.
At the time, ICE’s founder, chairman and CEO Jeffrey Sprecher said: ”As CEO, Mike will chart Bakkt’s strategic direction, payment products and markets, as well as overseeing the regulatory and financial performance of the company. His more than 25 years of experience in payments across product, engineering, strategy and operations will continue to serve us well”.
Mike Blandina has now stepped down to pursue a new endeavour. Jeffrey Sprecher stated: “I also want to express our gratitude to Mike Blandina for his work to help grow Bakkt during an important transformational period for the company and wish him all the best in his new endeavor”.
Interim CEO
In the announcement made by the ICE, David Clifton was placed as interim CEO of Bakkt. Clifton also occupies the role of VP of the parent company and has been in the company since 2008.
Adam White, Bakkt’s president which was appointed at the same time as Mike Blandina for CEO, remains in his role.
Bakkt’s development
Bakkt was a highly anticipated futures exchange by the Bitcoin community as it was thought to bring a flood of new trading volume to the asset. In reality however, Bakkt was off for a slow start with very low trading volumes.
[caption id="attachment_15708" align="aligncenter" width="1200"]
Source: Skew.com[/caption]
Above is the exchange’s open interest since the start. In contrast, BitMEX which mainly serves retail investors, has an open interest 62.5x larger.
[Opinion]: While Bakkt have raised $300 million in a Series B round, this lack of activity may be why the former CEO stepped down to pursue another opportunity.
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