{"id":13285,"date":"2019-03-31T00:00:00","date_gmt":"2019-03-31T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2019\/03\/31\/bakkt-introduces-its-board-members-led-by-ibm-and-cisco-founder-tom-noonan\/"},"modified":"2019-03-31T00:00:00","modified_gmt":"2019-03-31T00:00:00","slug":"bakkt-introduces-its-board-members-led-by-ibm-and-cisco-founder-tom-noonan","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bakkt-introduces-its-board-members-led-by-ibm-and-cisco-founder-tom-noonan\/","title":{"rendered":"Bakkt Introduces Its Board Members Led by IBM and Cisco Founder Tom Noonan"},"content":{"rendered":"

The yet-to-be-launched Bitcoin futures trading platform Bakkt<\/strong> has a new board constitution as revealed by Kelly Loeffler<\/strong>, the platform\u2019s CEO. Kelly made the announcement through a medium post<\/a><\/strong> on Friday saying that her platform is charting a new course and therefore requires a sober board. In her statement, she mentioned that the board will be chaired by former Cisco and IBM executive Tom Noonan, a self-described \u2018cyber expert\u2019 and serial entrepreneur.<\/p>\n

\u201cWe are charting a new course and it requires significant work, including by our Board, so I want to recognize our members,\u201d <\/em>Loeffler stated and continued, \u201cChairing the board is Tom Noonan, a cyber-expert and founder of numerous cybersecurity companies, including Internet Security Systems (IBM), JouleX (Cisco) and Endgame. Also joining me on the board are Jeff Sprecher, the Founder, Chairman, and CEO of ICE and Chairman of the NYSE; Akshay Naheta, Managing Partner at Softbank; and Sean Collins, Managing Partner at Goldfinch Partners.\u201d<\/em><\/p>\n

Bakkt is seeking a regulatory license<\/a><\/strong> to operate a physically delivered Bitcoin futures<\/strong> platform. So far the approval from the US CFTC has been long coming with no clear determination in sight. Loeffler made the point that her team is not sitting around waiting for the approval. Not so long ago, the CEO announced the completion of a Series A funding round that saw the platform raise $182.5 million, effectively valuing the company at $740<\/a> <\/strong>million. Using these funds, Bakkt acquired some assets from independent futures commission merchant Rosenthal Collins Group (RCG) which should help bolster the platform\u2019s trade infrastructure.<\/p>\n

\"Tom<\/a><\/p>\n

Over the company\u2019s past few updates, the CEO has maintained that they are working closely with the US CFTC to gain approval but they cannot provide a launch date. In this latest notification, Loeffler stated that they are making solid progress towards getting the necessary approval to launch their much-anticipated platform. She said,<\/p>\n

\u201cWhile we\u2019re not yet able to provide a launch date, we\u2019re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The yet-to-be-launched Bitcoin futures trading platform Bakkt has a new board constitution as revealed by Kelly Loeffler, the platform\u2019s CEO. Kelly made the announcement through a medium post on Friday saying that her platform is charting a new course and therefore requires a sober board. In her statement, she mentioned that the board will be … <\/p>\n

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