Bakkt is a trending name in crypto. A lot of people feel that once it’s approved it’s going to be one of the major drivers of the next bull market. Unfortunately Bakkt has been delayed repeatedly and a trading platform that was supposed to open in 2018 is now looking at a launch sometime in mid-2019.
However, it’s not all bad news. The Bakkt team is continuing to grow and the CEO, Kelly Loeffler, recently publicized an apt analogy.
Like Running Marathon
In a recent Medium post Loeffler, a former marathoner, discussed her take on the current market. “This point in time recalls the stage in the training regimen when you’re putting in long runs with your training team. Race day is approaching, and there is more work to be done.”
That does seem to match the current sentiment and price action. It feels like crypto is close to breaking out but there is still more to be done. Projects need to scale and onboard more users. Regulators need to come out with comprehensive regulation so that investors feel comfortable investing. And most of all, there needs to be a trustworthy way for institutional investors to get involved with crypto without getting burned.
Bakkt is aware of that need and Loeffler has stated, “we are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.”
A New Addition at Bakkt
Proving that the platform is continuing to grow despite the bear market and regulatory hurdles, Loeffler announced the hiring of Mike Blandina. A former of employee of PayPal and Google, he’ll join Bakkt as its Chief Product Officer. Loeffler had this to say about his role in the company.
“I’m pleased to share the news that Mike Blandina has joined as Chief Product Officer. As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital assets with payments use cases, two elements of Bakkt that help bring real world applications to bitcoin and other cryptocurrencies.”
Loeffler went on to discuss how Bakkt attracts the top talent in the financial industry. “Building an innovative company from the ground up allows us to assemble a team of trailblazers and doers — those who want to deliver on our shared vision for digital assets, and who work tirelessly to execute and deliver.”
The Bakkt Delay
Bakkt has been repeatedly delayed by regulators who don’t fully understand blockchain technology and must be coached through it. The delays have been further worsened by the government shutdown under Trump. In response to this Jeff Sprecher, the CEO of ICE (the parent company of Bakkt), has stated, “I think you’ll see launch later this year .”
Hopefully that proves to be the case as many people believe that the opening of Bakkt is going to be the catalyst that the market needs to shift away from the bear and embrace the bull.