Bakkt CEO Releases Update on Crypto Trading Platform’s Progress and New Board Members
The Bakkt platform has been in the works for a while, as the Intercontinental Exchange waits for approval through the CFTC to finally get involved in physically deliverable Bitcoin futures. There has been many crypto investors that have been looking forward to this launch, but the decision remains postponed. In the meantime, the company has created a post on Medium, explaining what they are up to at this point.
The company explains that they are working on “charting a new course,” leading them to bring the attention to the board members that are doing all this hard work. Presently, the Board includes:
- Tom Noonan, who is responsible for founding Internet Security Systems (IBM), JouleX (Cisco), Endgame, and other cybersecurity companies.
- Jeff Sprecher, the founder, chairman, and CEO of ICE, as well as the NYSE Chairman.
- Akshay Naheta, a managing partner for Softbank.
- Sean Collins, a managing partner with Goldfinch Partners
Through the year, the company explains that they have been working to get the regulatory approval through the CFTC. The bitcoin trading platform launch date still is unavailable at this time, but the blog indicates that they are “making solid progress.”
When the Bitcoin futures contracts are finally listed, they will be cleared through ICE Futures US. A report from Abacus Journal suggested that this post from CEO Kelly Loeffler is meant more to put Bakkt directly in the spotlight, rather than keeping silent as they wait for some answer from the CFTC and the highly-anticipated cryptocurrency exchange.