The CEO of Bakkt, Kelly Loeffler, is reportedly going to take the seat in the U.S. Senate for the state of Georgia. Governor Brian Kemp is set to choose the businesswoman rather than President Trump’s choice – U.S. Rep. Doug Collins.
Bakkt CEO In U.S. Senate
Governor Brian Kemp appears to be clear with his choice for the U.S. Senate seat after months of anticipation and discussions. The state of Georgia will reportedly have the CEO of Bakkt, Kelly Loeffler, taking the hot seat. While this might sound like a surprising pick to some, Gov. Kemp is attempting to expand the Georgia GOP’s appeal to women with Loeffler. It should be officially announced at a press conference early next week, and this will make Bakkt’s CEO the second woman in the history of the state to serve in the U.S. senate.
U.S. Rep. Doug Collins seemed to be the more sensible choice due to his experience. He has served as congressman four terms already. Moreover, Collins is one of the most vocal defenders of President Donald Trump in Washington, which also made him Trump’s favorite. By choosing Loeffler, Gov. Kemp appears to be defying the Republican leaders, as well as the President.
Even though Trump is purportedly upset, Loeffler might actually be supporting the established vision for a “great” America, as she wrote in her Senate application to Kemp:
“If chosen, I will stand with President Trump, Senator David Perdue, and you [Gov. Kemp] to Keep America Great.”
It’s worth noting that the seat will be vacated at the end of the year by Johnny Isakson, due to health issues.
Bakkt Recent Performance
Loeffler is mostly known to the cryptocurrency community with her role as the CEO of Bakkt Bitcoin Futures platform. It’s interesting to take a quick look at how Bakkt has been performing lately, as well.
It initially started slowly with minimal volume; however, since then, the interest has continuously been increasing. As Cryptopotato reported this week, the platform noted over 2700 ($20.3 million) contracts traded on November 23rd. According to the Bakkt Volume Bot, the number doubled to $42.5 million on the 27th, breaking the all-time high record again.
With the upcoming announcement that Bakkt’s CEO will have a place in the U.S. Senate, it will be intriguing to follow how the Bitcoin Futures platform will perform in the future, as well.