Bakkt Crypto Platform Appoints New Board Of Directors

Kelly Loeffler, the head of the future Bakkt crypto platform, published a report in which she spoke about the progress and presented a new board of directors.

It has become known that the management of Bakkt will be headed by Tom Noonan, an expert on cybersecurity and the founder of several companies in this area. Jeff Sprecher, the head of the parent company Intercontinental Exchange (ICE) and part-time chair of the NY Stock Exchange (NYSE), will also participate in the platform management.

Moreover, top managers of the Japanese media corporation Softbank and Australian investment firm Goldfinch Partners have joined the board of directors of the future crypto platform.

Loeffler didn't provide the exact date when the regulated platform for bitcoin futures would start working. Nevertheless, the head of Bakkt noted significant progress in the initiative's development. According to her, the firm worked closely with the US Commodity Futures Trading Commission (CFTC) for a year to obtain permission to trade bitcoin derivatives. Pricing for such contracts will take place in an open and regulated way, Loeffler added.

The launch of the Bakkt platform has been repeatedly postponed. The CFTC should grant it permission to keep bitcoins on behalf of the clients in the platform's storage. Perhaps that is why Loeffler promised on the blog to present their own custodial solution from Bakkt in the nearest future.

It should be noted that the company completed the first round of financing in January, during which it raised $182.5 million from Microsoft, Galaxy Digital, Pantera Capital, and other major market players.

As previously reported, the capitalization of Bakkt reaches $740 million.