Former Bakkt CEO Kelly Loeffler will serve on the Senate Agricultural Committee, which defines the terms of reference of the US Commodity Futures Trading Commission (CFTC) and approves nominations for members and chairpersons, including reauthorizing the CFTC as a federal Regulatory Authority. Loeffler was appointed Bakkt CEO in August 2018. Under her leadership, Bakkt received approval from the CFTC to begin trading bitcoin contracts settled in kind and eventually opened to traders in September. In an interview, Loeffler said that she was "always working to adhere to the letter and spirit of the Senate's Code of Ethics and would continue to do so every day," fearing that her appointment would create a conflict of interest. Earlier news, former Bakkt CEO Kelly Loeffler has been sworn in the U.S. Senate to become Georgia's newest senator.