RATE Group | As Bakkt’s second CEO exits firm, questions rise about the hyped Bitcoin “catalyst”
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As Bakkt’s second CEO exits firm, questions rise about the hyped Bitcoin “catalyst”

26 Apr As Bakkt’s second CEO exits firm, questions rise about the hyped Bitcoin “catalyst”

Posted at 14:54h in Bitcoin News by

Bakkt, the Intercontinental Exchange (ICE) crypto subsidiary, suffered its second high-profile executive exit last week after CEO Mike Blandina stepped down. While the rumored institutionalization of cryptocurrency remains a far-fetched vision, several empty promises and misplaced hypes question Bakkt’s integrity as a company.

Third executive in four months

As reported on Bloomberg, Blandia resigned the Bitcoin futures bourse after just four months on the job. He now joins J.P. Morgan to head its payments technology division. Interestingly, the U.S. investment bank was poised to develop its JPM coin in 2019, but not much has transpired on that front since.

When Blandia joined Bakkt as CEO in December 2019, he vowed to oversee the exchange’s expansion in key markets, explore newer product offerings, and even launch a retail application for everyday payments. Previously, Blandia had stints at PayPal and Google, both centered in the payments division.

Bakkt’s new CEO is David…

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