Bakkt's chief executive left after four months and was replaced by a vice-president at ICE

Beat BlockBeats news, Coindesk reports that Mike Blandina is stepping down as chief executive of Bakkt. He will be replaced by David Clifton, vice-president of mergers and acquisitions and integration at Bakkt's parent company ICE. Adam White, the company's President, will stay on.

Blandina was named CEO in December 2019, succeeding current Georgia republican senator Kelly Loeffler, who has been at the helm of Bakkt since the company's inception in August 2018 until her appointment to the U.S. congress in 2019. A person familiar with the situation said Mr Blandina would take a position at JPMorgan after his departure. Blandina's future plans were not mentioned at the press conference, saying only that he was "leaving the company to pursue a new opportunity."

Bakkt offers trading in bitcoin futures and options contracts around the world. The company is currently working on a payments and rewards app that focuses on retail. The app is now being integrated and tested with starbucks, and there are plans for a future final version of the app to support a range of rewards, such as air miles. Bakkt launched futures contracts for physical delivery last autumn and options and cash in December.

The original address: https://www.coindesk.com/bakkt-ceo-mike-blandina-steps-down-4-months-after-taking-role 

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