New CEO Of Crypto Exchange Bakkt Steps Down, Joined Only 4 Months Back

Mike Blandina, former PayPal and Google doyen, is resigning from his role as the Chief Executive Officer of Bakkt, one of the most speculated crypto companies. Notably, he is stepping down after mere four months on the job.

The parent company of Bakkt, Intercontinental Exchange has stated that David Clifton, its Vice President of M&A, will succeed Blandina as the Chief Executive Officer of the company. The president of the company, Adam White, will maintain his role, as per a recent announcement.

Jeffrey Sprecher, the chairman and CEO of Intercontinental Exchange mentioned,

“David Clifton has been deeply engaged in many of our most important initiatives over the years and, after helping to lead the acquisition of Bridge2 to accelerate the rollout of Bakkt’s consumer application, I know he will provide outstanding leadership for Bakkt as its Interim CEO.”

Last year, Bakkt partnered with Intercontinental Exchange in order to commence the first completely regulated BTC futures and options market for worldwide institutions. Presently, The company is working on a retail-focused app where individuals can turn reward points into a spendable virtual currency.