Skip to main content

BAKKT TO THE SENATE: CEO KELLY LOEFFLER TO OCCUPY US SENATE SEAT



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:


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 Tech Tic Technologies 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.


Comments

Post a Comment

Popular posts from this blog

Bitcoin Hash Rate Hits All-Time High: Here’s How It Works And How It Affects The Price

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...
Post a Comment
Read more

John McAfee: Bitcoin Is Ancient Technology, As Ford Model T For Cars

American entrepreneur and controversial crypto figure John McAfee, who boldly predicted that Bitcoin would be valued at $1 million by the end of 2020, has openly lashed out on the leading cryptocurrency, referring to it as an ancient technology due to several limitations. This comes as a blow, considering that he was one of the biggest promoters of Bitcoin and crypto in general over the last few years. McAfee believes that being the first blockchain to exist does not make Bitcoin the “future.” In his opinion, there are newer blockchains with enhanced features that solve the flaws of the Bitcoin blockchain, just as the Ford Model T automobile of 1908 was replaced by more sophisticated cars. The 74 years computer programmer and billionaire has always been an advocate of decentralization and privacy. In fact, he has spent a great deal of time on the run while preaching against central authorities like government, and as such, privacy is a big concern for him, one of the features w...
Post a Comment
Read more

South Korea Won’t Tax Cryptocurrency Profits, For Now

Good news for cryptocurrency traders in South Korea as profit generated from crypto trading will not be subjected to tax, according to a recent announcement from the country’s Ministry of Finance and Strategy. The Ministry clarified that the current tax law does not consider crypto trading gains as taxable income; thus, Korean crypto traders are not required to pay taxes on the profits they earn from crypto trading for the time being.  However, crypto traders in the country may not be exempted from taxation for a long time. An official of the Ministry said that the Ministry is aware of the loophole in the current tax law, and they are currently reviewing the regulations in major foreign countries so that they can amend theirs in an effective way. “The income tax law is only taxable on income listed as taxable. We are preparing a taxation plan for virtual assets by comprehensively reviewing the taxation of major countries, consistency with accounting standards, and trend...
Post a Comment
Read more