Popular digital asset platform Bakkt is bidding farewell to its co-founder and president Adam White next week. The executive announced the move via a Twitter post Thursday without specifying any reason for his departure or any future plans.
“After a great 3+ years at Bakkt, next week will be my last,” he wrote in a tweet. “I’ve loved working at [the] intersection of crypto + markets and good to see the industry finding the balance between innovation & regulation. Lots of work still to do here but never been more optimistic about the future”
White was one of the first employees at Coinbase, where he worked for five years as a vice president and general manager. After leaving the crypto exchange, he went on to co-found Bakkt along with Kelly L. Loeffler and Mike Blandina in 2018.
After a great 3+ years at bakkt, next week will be my last
I’ve loved working at intersection of crypto + markets and good to see the industry finding the balance between innovation & regulation. Lots of work still to do here but never been more optimistic about the future 🌕
— Adam White (@WhiteAdamL) December 23, 2021
Bakkt Holdings was a subsidiary of Intercontinental Exchange, owner of the New York Stock Exchange, till October 2021. It later became a publicly listed company via a merger with VPC Impact Acquisition Holdings. ICE retained a roughly 68% economic interest and a minority voting interest in the merger.
After listing on NYSE, Bakkt shares soared to a good $50 per share but have fallen sharply ever since. At press time, they were trading at $10, up by 7.53 since yesterday.