• Bakkt CEO Kelly Loeffler was officially appointed this morning to fill a vacant United States Senate seat for the state of Georgia
  • She will serve at least until 20 January 2021 and could even run for office in November elections to remain in Congress

The Governor of Georgia, Brian Kemp, has officially appointed Bakkt CEO Kelly Loeffler to fill a vacant United States Senate seat. Essentially, Senator Johny Isakson is stepping down due to health issues on the last day of 2019, so Loeffler will become Senator on New Years Day and continue to be in office until the new Congress is inaugurated on 20 January 2021. That being said, Loeffler could technically run for office in the November elections and stay in Congress long term.

One thing that is unclear at this time is if Loeffler will remain the CEO of Bakkt during her Senate term, or if she will step down. Loeffler has indicated that she has been trying to become a politician in Washington DC for her entire life, so it seems more likely than not that she will step down from Bakkt to focus on her political career.

That being said, Loeffler would still likely have strong ties to Bakkt even if she steps down, and more importantly, Loeffler is a well-known cryptocurrency advocate, having helped launch the first physical Bitcoin futures in the United States. Therefore, the crypto space now has an advocate who is a United States Senator, and this could perhaps improve the regulatory situation for the crypto space during 2020.

 

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