Trump nominates former Bakkt CEO Kelly Loeffler as Secretary of Agriculture

2024-11-24 08:10:06

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ChainCatcher news, according to The Block, U.S. President-elect Trump plans to appoint former Bakkt CEO and former Senator Kelly Loeffler as Secretary of Agriculture. Loeffler will also serve as co-chair of Trump's inauguration committee. Notably, Loeffler's husband, Jeff Sprecher, is the founder and CEO of ICE, the parent company of the New York Stock Exchange, which is the founding and major shareholder of Bakkt.

Additionally, according to the Financial Times, Trump's social media company Trump Media and Technology Group (TMTG) is in advanced negotiations for an all-stock acquisition of Bakkt. Trump holds a 53% stake in TMTG. According to reports, Bakkt plans to build an institutional investor trading platform and may gradually shut down its licensed cryptocurrency custody business in New York.

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