Adam White, president of the Bakkt institutional platform, announced that he will leave the company next week. Thus, the specialist did not disclose the reason for leaving. Also, did not tell what he would do after retirement.
White has worked at Bakkt since the foWhite has worked at Bakkt since the foundation of the platform. In 2018, the specialist was appointed its operating director. Prior to that, he served five years as general manager and Vice President of Coinbase.
On October 15, Bakkt went public after merging with VPC Impact Acquisition Holdings, a special purpose acquisition company (SPAC).
The first day of trading as a publicly traded firm
BKKT opened at $9.45 on the New York Stock Exchange (NYSE) on October 18. And gained 3.3% in the first 30 minutes of trade to $9.77. Traders, on the other hand, swiftly moved to grab gains, leading prices to plummet by -9.5% to $8.84 by midday.
Bakkt is not Intercontinental Exchange’s first effort into cryptocurrencies. In January 2015, the business was a key investor in Coinbase’s $75 million Series C investment round.
Integrating Ethereum into Bakkt services
Bakkt securities reacted to the news of White’s resignation with a slight drop. But by the time of the writing they had already recovered and were trading near $10.
Previously in November, Bakkt announced the integration of Ethereum into its services. The company took such a step against the background of “growing interest and acceptance of cryptocurrencies”. According to the Bakkt survey, almost half of the respondents have invested in one or another cryptocurrency over the past year.
In March 2021, the platform launched a mobile application that allows users to store, buy and sell Bitcoin. Moreover, the digital wallet is available on iOS and Android.