Blockchain 丨 Bakkt CEO will become Georgia senator, Bitcoin is expected to enter mainstream US politics

Kelly Loeffler, CEO of Bakkt Bitcoin Futures Exchange, a parent company of the New York Stock Exchange Intercontinental Exchange (ICE), has been approved by Georgia Governor Brian Kemp and will be seated in the state ’s Senate next week.

ZTDIjLv3

Bakkt head enters Senate, causes controversy

Loeffler will replace his former candidate, U.S. Rep. Doug Collins, and his previous expectation was to appoint a long-time member of Congress. According to AJC, Loeffler was appointed to build a female profile in the Republican Georgia branch with a view to increasing the party's appeal to women.

But it also brought an outstanding executive of the Bitcoin business to the American political system and became an advocate of mainstream American politics. Loeffler will replace Republican Johnny Isakson as the second woman in history to serve the Georgia Senate.

Loeffler may be known for his political role rather than his role as treasurer. But the reputation of the Bakkt exchange may become even more prominent. Based on the current situation, her appointment is expected to be announced early next week unless there is a final change.

Hours before the deadline for legislators, Loeffler's application came unexpectedly. Loeffler's seat will be a controversial one, and some Republicans and even Democratic candidates are interested in it.

The appointment of Bakkt's female boss as a lawmaker quickly became hostile, as Collins was considered more favorable as a candidate and was strongly supported by US President Donald Trump.

Bitcoin futures operator's growing impact on BTC volatility

The appointment comes at a time when Bakkt's strength has recently increased, and the platform's bitcoin futures trading volume and potential impact on the bitcoin ecosystem are increasing. BTC futures trading volumes have responded to speculation, providing a balance for this and attracting mainstream buyers.

At this point, it is uncertain how Loeffler's involvement in politics will affect Bakkt's reputation. The BTC market has always wanted to escape political influence, and this has focused on price discovery and the battle between bulls and bears. The futures market provides a direct portal for new entrants, making it possible to speculate on the price movements of Bitcoin while avoiding real ownership.

Even with Bakkt futures, traders can choose to hold Bitcoins through contracts instead of withdrawing them directly.

Over the past week, Bakkt has created a series of volume and open position records, although this growth remains volatile.

WX20191127-190632 @ 2x

Daily summary of Friday's Bakkt Bitcoin monthly futures:

Trading contracts: 3167 ($ 24.61 million, + 12%)

Highest record: 5671 (11/27/2019)

Open interest: $ 4.61 million (+ 7%)

Live update: @BakktBot

-Bakkt Volume Bot, November 30, 2019 In 2019, the Bitcoin futures market is more influential, and the price of BTC has fluctuated based on speculative activities denominated in US dollars.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

WIRED Investigating the Mysterious Hacker Incident on the Day of FTX Bankruptcy

Author | Wired Translated | Wu Shuo Blockchain Original Link https//www.wired.com/story/ftx-1-billion-crypto-heist/ w...

Blockchain

Pushing the IEO platform and expanding the scale of the currency, why is the conservative Coinbase “flying itself”?

At the end of the IEO, Coinbase, the largest cryptocurrency trading platform in the United States, has heard the news...

Blockchain

Exchanges are temporarily withdrawing cash, data is garbled, or the Amazon server failure in Tokyo

According to Yahoo Japan, the Amazon Web service failed at around 13:00 on August 23, 2019. The service that failed w...

Blockchain

Number said | In the first half of 2019, blockchain private placement financing of 11.851 billion yuan exceeded 60% of funds invested in the US market

As the cryptocurrency undergoes the “Bear Bull” conversion, the blockchain private equity financing mar...

DeFi

LK Venture Research Report | Telegram vs Twitter Who will dominate the super application race in the Web3 era?

Original author LeoDengSummary X and Telegram are globally renowned social media platforms that are exploring in the ...

Blockchain

Is an exchange losing $ 250 million in cryptocurrencies a Ponzi scheme: Quadriga Bizarre Story

Written by: Nathaniel Rich Translator: Zhan Juan Illustrator: Bianca Bagnarelli Original article published in Vanity ...