Bakkt president Adam White resigns from digital asset firm

The president and founding executive of the digital assets and Bitcoin futures trading platform, Bakkt Adam White is stepping down after three years of serving the company.

White announced his retirement from Bakkt in a tweet on Thursday; he said that he would leave the company the following week. White has worked as both chief operating officer and president of the company. Following his departure from Coinbase in 2018, where he held positions as vice president and general manager, White joined Bakkt. White did not reveal what he is planning after this or whether he intends to continue working in the cryptocurrency field.

“I’ve loved working at the intersection of crypto + markets, and it’s good to see the industry finding the balance between innovation & regulation,” White said. He, however, added that a lot of work remains to be done in the company. “I have never been more optimistic about the future,” he continued.

After a great 3+ years at bakkt, next week will be my last

I’ve loved working at 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 🌕

— Adam White (@WhiteAdamL) December 23, 2021

Bakkt rocks on NYSE

Bakkt, which was launched in 2018 by the American Fortune 500 company Intercontinental Exchange, or ICE, has had a more gradual rollout than many in the crypto world had anticipated. The platform initially planned to promote institutional use of cryptocurrency before moving its attention to retail-oriented apps and Bitcoin (BTC) futures contracts geared toward institutions. Leadership has also changed frequently at the company, with CEOs ranging from PayPal veteran Mike Blandina to former United States Senator Kelly Loeffler to former ICE official David Clifton.

Bakkt went public in October following a combination with a special purpose acquisition company, VPC Impact Acquisition Holdings, which was formed specifically for this purpose. Initially trading at $9.45 a share on the New York Stock Exchange or NYSE under the ticker BKKT, the stock soared to more than $30 by the end of the first month. Currently, BKKT’s stock is trading at $10 per share at the time of writing.

Recently, the technology giant Google joined hands with Bakkt to bring Google Pay to crypto users, and the development is in the process.