President Donald Trump appointed the Former CEO of Bakkt and current Senator of Georgia, Kelly Loeffler, to the White House’s committee on reopening the economy. Interestingly, the selection comes only weeks after Loeffler was accused of insider trading following a senators’ meeting regarding the COVID-19 health and economic impact.
Loeffler To Help Reopen U.S. Economy
Loeffler served as the CEO of the Bitcoin futures trading platform Bakkt before she became a U.S. senator for Georgia.
Yesterday, she announced her appointment in the new nation’s committee on reopening the economy:
“Thank you, @realDonaldTrump, for appointing me to your task force on reopening American safely in the wake of #COVID19.
With 22 million Americans filing for unemployment, it’s clear that we must start working to revive our economy and get the American people back to work safely.”
She referred to the increasing number of jobless U.S. citizens in the past several weeks. Ever since the nation announced lockdowns prompted by the COVID-19 pandemic, approximately 22 million people have filed for unemployment benefits.
Despite the rising numbers of confirmed coronavirus cases in the U.S., President Trump is attempting to resume the economy soon with the new committee. Per a recent report, the White House had informed lawmakers that they were selected to serve on the task force “to provide counsel to the president on the reopening of America in the wake of COVID-19.”
Loeffler’s Controversial Appointment
As Cryptopotato informed recently, Senator Loeffler reported a massive sale of stocks jointly owned by her and her husband on January 24th. On that day, however, the Senate Health Committee hosted an all-senators private briefing on the coronavirus developments and possible future consequences.
It’s worth noting that it’s illegal for Congress members to trade on non-public information that’s acquired through their official duties. Loeffler refuted the allegation that she was involved in insider trading, calling it a “ridiculous and baseless attack.”
Despite her claims that she had nothing to do with the stock sales right before their prices plunged, some people expressed concerns regarding her appointment in the new task force. Upon the announcement, several public figures commented in a non-friendly manner.
Political Consultant Jordan Uhl said, “it’s time to revive the economy, says [the] woman who did insider trading to avoid taking the loss when it tanked.”
Popular comedian, writer, and producer, Mike Drucker, was even harsher by saying, “congrats on finding a new way to profit off coronavirus deaths!”