Kelly Loeffler, CEO of Bakkt, will be appointed as the new U.S. Senator from Georgia. According to CBS News, a source familiar with the plan confirmed the news and said the decision would take effect January 1, 2020.
Business news mobile application Born2Invest provides the most important crypto news and the latest headlines in the financial and business sector. Our companion app will bring you the newest information, analysis, and research about the world of Bitcoin and other Cryptocurrencies, from trusted sources that are updated during the day.
Position for Bakkst’s chief
While it is not yet clear who will succeed Loeffler as Bakkt’s chief, her term in the U.S. Senate could prove invaluable to the crypto industry. While Georgia Governor Brian Kemp is not scheduled to announce his election to the open seat in the U.S. Senate until Wednesday, Dec. 4, sources close to the issue have confirmed rumors that have been circulating for the past several weeks.
Loeffler, CEO of Bakkt, will be Kemp’s choice for the vacant position. A veteran of the financial industry, Loeffler will receive support from the Republican National Senate Committee despite not having the backing of U.S. President Donald Trump.
Loeffler – the right person for US senator
When appointed, Loeffler will become the second US senator in Georgia’s history. It is said that the political newcomer was elected to the seat to attract a specific group of voters that the Republican party needs to reach out to.
Public Service Commissioner Tim Echols, who also applied for the position, said The Atlanta Journal-Constitution that Governor Kemp made the right decision in choosing Loeffler.
“Kelly, or any outstanding conservative woman, helps Republicans recover women from the suburbs who seem to have left our party in the last cycle. The governor knows what he’s doing.”
Not everyone’s happy with Loeffler’s position
This is not the first time the longtime Republican donor had her eyes on the U.S. Senate. In 2014, Loeffler considered running for Georgia’s position but finally receded when the Intercontinental Exchange (ICE) was going through the acquisition of the New York Stock Exchange (NYSE).
Loeffler’s 17-year term as ICE vice president ended when she was appointed executive director of the stock exchange’s new subsidiary, Bakkt. Since its launch earlier this year, Bitcoin’s first futures offering with physical market settlement has published record trading volumes.
Being CEO of one of the few regulated companies offering trade-in cryptographic derivatives, Loeffler is ready to bring a new industry perspective at the forefront of U.S. politics.
While the crypto industry hopes to have a powerful ally in the Senate, Loeffler’s political opponents accused her and the Republican Party of corruption.
A Democratic Senatorial Campaign Committee spokesman called Loeffler’s appointment a “corrupt coronation” and accused her of buying her Senate seat with political donations.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Criptomonedas ICOs, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Virginia adult-use cannabis law goes into effect on July 1st
Virginia has recently legalized the use of cannabis. Two amendments to the cannabis bills SB 1406 and HB 2312 were...
Open finance bridges the gap between debit and credit: Finerio
The lack of publication of the secondary rules delays the adoption of this model contemplated in the Fintech law. The...
AI could reduce greenhouse gas emissions by 10% in ten years
A Boston Consulting Group survey explains that applying AI to processes with the highest consumption works even after just one...
The demand on the futures markets influenced by speculative selling
Rice was a little lower on Friday and for the week on what appeared to be speculative selling tied to...
Burkina Faso: Japan grants $6.5 million for access to health, education for the most vulnerable children
The grants follow a partnership signed between the Government of Japan, the Japan International Cooperation Agency (JICA) and UNICEF Burkina...
Cannabis6 days ago
UN fears imperfect decriminalization of cannabis in Mexico
Business6 days ago
Gold vs. Bitcoin: The 21st Century Debate
Crowdfunding6 days ago
Profit Farm prepares the third round of capital increase and two new campaigns
Featured6 days ago
The fintech company Unifiedpost boosts its growth prospects