Adam White Reveals to Depart from Bakkt

Adam White, president of U.S. Institutional Exchange Bakkt, posted an official Twitter on December 23, stating that next week will be his last time at Bakkt.

Adam White has worked at Bakkt for more than three years. Since he joined Bakkt in 2018 after he left Coinbase, he has held key positions as Bakkt-chief operating officer and president.

Regarding this resignation, he said that:

“I’ve loved working at the intersection of crypto + markets and good to see the industry finding the balance between innovation & regulation. Lots of work still to do here but never been more optimistic about the future”

He did not reveal where he will go on his Twitter and whether he will continue to develop in the cryptocurrency industry.

Bakkt, founded in 2018, is a subsidy of ICE (Intercontinental Exchange), which is also the parent company of NYSE (New York Stock Exchange).

Bakkt platform acts like a bridge between the emerging cryptocurrency market and traditional institutions, merchants, and consumers who want to access the market.

In June earlier, U.S. Institutional Exchange Bakkt launched a new virtual Visa debit card named “Bakkt Card” for retail purchases in terms of crypto transactions.

On October 19, the Bakkt digital asset marketplace went public via a Special Purpose Acquisition Company (SPAC) on the New York Stock Exchange through completing a merger with blank-check company VPC Impact Acquisition Holdings.

Yet, the leadership in the company changes frequently. Among those leaderships, former U.S. Senator Kelly Loeffler left her role as the CEO of Bakkt crypto custodian firm in late December 2019 to replace Sen. Johnny Isakson. The latter was forced to step down due to health complications.

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Bakkt president Adam White announces departure from digital asset platform

Adam White, the president and founding executive of digital assets company Bakkt, is leaving the firm after three years.

In a Thursday post on Twitter, White said next week would mark his departure from Bakkt, where he has served as both chief operating officer and president. White joined Bakkt after leaving Coinbase in 2018, where he worked as a vice president and general manager. The Bakkt president did not reveal what his next move would be, or whether he would continue to work in the crypto space.

“I’ve loved working at intersection of crypto + markets and good to see the industry finding the balance between innovation & regulation,” said White. “Lots of work still to do here but never been more optimistic about the future.”

Launched in 2018 by the Intercontinental Exchange, or ICE, Bakkt has seemingly had a slower rollout than many in the space expected. The platform initially aimed at the institutional adoption of crypto before shifting to retail-focused apps and institutional-facing Bitcoin (BTC) futures contracts. In addition, leadership at the firm has regularly changed hands, with CEOs ranging from PayPal veteran Mike Blandina, former U.S. Senator Kelly Loeffler, and ICE executive David Clifton.

Related: Record-high Bakkt Bitcoin delivery exposes institutional frenzy for BTC

In October, Bakkt went public with a merger via a special purpose acquisition company, VPC Impact Acquisition Holdings. Shares traded on the New York Stock Exchange under the ticker BKKT for $9.45 at launch and surged to more than $30 later that month. At the time of publication, shares of BKKT are trading for $9.06.