Kelly Loeffler’s Bitcoin Exchange Bakkt Readies For IPO
The power couple of former Republican candidate for Georgia Senate Kelly Loeffler and Jeffrey C. Sprecher, chairman of the New York Stock Exchange, didn’t wait long now that Loeffler has been defeated in her senate race. Although it is unclear to which of her former companies she will return, her old crypto platform Bakkt is readying itself for an IPO at the New York Stock Exchange.
How convenient we would say.
Loeffler, who was caught up in scandal for having sold stocks before the height of the corona panic on Wall Street hit, based on insider information, will see the company that she founded get $207 million in cash and $325 million from other investors, including $50 million from ICE.
The Bakkt valuation is an interesting (read: insane) data point for the Coinbase IPO— Barry Silbert (@BarrySilbert) January 11, 2021
In all, the deal is valuing the crypto platform at around $2.1 billion.
Seeing the popularity of crypto and stock trading, Bakkt is not wasting time and is bringing an App to Google Play and the App Store. Estimations as for some 400,000 consumers three months after the IPO will be launched.
Rumblings of a $2 billion merger for the Bitcoin futures platform, Bakkt, have hit the presses. If it happens, the company will go public. First Coinbase wants to IPO, and now Bakkt could be close on its heels. https://t.co/ABGhLZgCmA— Cointelegraph (@Cointelegraph) January 8, 2021
Bakkt CEO Gavin Michael says he expects the app will launch as from March 2021. Sure looks like Ms Loeffler already has a new hobby outside of politics to look forward to.