Former CEO of Bakkt Favors Trump’s Choice for New SBA Chief

Last December, Bakkt’s former CEO, Kelly Loeffler, has been appointed as the newest Senator of Georgia. The American businesswoman turned politician was sworn into the US Senate by the chief officer, Michael Pence. 

What an honor to serve our state and country in the U.S. Senate! After being sworn in by @VP, I cast my first vote to support @POTUS's pick to lead the @SBAgov. So grateful to be here. More to come! #gapol pic.twitter.com/CuAhAFcSs6

— Senator Kelly Loeffler (@SenatorLoeffler) January 7, 2020

According to reports, Loeffler takes the seat of Senator Johnny Isakson, the 75-year old Republican politician who had stepped down from his position due to health problems. And while her time in the Senate had only just begun, Loeffler confirmed that she had already given her first vote in favor of Trump’s choice for New Small Business Administration (SBA) Chief. 

Founded in 1953 by then-president Dwight Eisenhower, SBA operates as an autonomous branch of the US government. The primary function of this agency is to provide support for small businesses and entrepreneurs. 

Previous industry reports highlight Loeffler’s claim that she is a Trump supporter. Trusted sources shared that the new senator described herself as a life-long conservative who’s in favor of the Second Amendment, of the military, and the wall, among others. However, despite having kind words for the President, it didn’t save her from criticisms. According to Trump’s supporters, Senator Loeffler lacks the experience. Furthermore, she was deemed as too moderate.

Time Magazine had a brief interview with the 49-year old politician, wherein she said that she hasn’t had the chance to talk to Trump since her appointment. Loeffler also declared her determination to earn the trust of the President, further stating that she would work really hard to do so. 

Loeffler’s stance on Bitcoin

While the new senator’s previous connection with Bakkt is not written on the US Senate’s official website, it cannot be denied that Loeffler has a deep connection with the crypto industry. Bakkt, the trading platform of Intercontinental Exchange (ICE) for its Bitcoin- (BTC) related products, is one of the leading companies in the crypto industry. 

Now that she is serving a US Senator, the industry is keen to learn about her stand regarding Bitcoin and other digital assets. The spectators are eager to know whether she would side with Trump, who is known as one of the most potent critics of Bitcoin. However, Loeffler is yet to respond to a series of interview requests sent by the press. 

Notably, in 2018, the state of Georgia had drafted a bill that seeks to recognize cryptocurrencies as a valid medium of payment for tax obligations. It was submitted in February 2018; however, the industry is still waiting for new updates regarding the legislation.