Adam White is leaving Bakkt after 3+ years as the president of the company. White did not specify what was the reason behind the decision nor what he is planning to do next.
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White has been working with Bakkt since the company's foundation. In 2018, he was appointed as Bakkt's Chief Operating Officer. Prior to Bakkt, he served as Vice President and Head of Institutional Business at Coinbase. In late 2019, Bakkt's CEO, Kelly Loeffler, left the company to become a US senator from the state of Georgia. However, she lost her reelection bid in the 2020 race. After the news broke, Bakkt's shares (NYSE: BKKT) dropped by 1.5% down to $9.16.
Bakkt went public in October this year losing as much as 6.9% just in the first day of trades. Bakkt's market capitalization is currently at $519 million.
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