ICE’s Crypto Buying and selling Desk Bakkt Appoints David Clifton as New CEO, After Mike Blandina Steps Down from his Function

Mike Blandina, former CEO at Bakkt, the cryptocurrency buying and selling desk owned by the Intercontinental Alternate (ICE), shall be stepping down from his position simply 4 months after his appointment.

ICE’s administration famous on April 23, 2020, that David Clifton, Bakkt’s vp for mergers and acquisitions (M&A) and integration, shall be appointed as the corporate’s interim CEO.

ICE said in a launch:

“Clifton replaces Mike Blandina, who’s leaving the corporate to pursue a brand new alternative. Adam White, who was appointed President of Bakkt earlier this yr, will proceed in his position.”

Blandina had taken over as Bakkt’s CEO again in December 2019. He had changed former Bakkt CEO Kelly Loeffler, after she was appointed to the US Senate.

Jeffrey Sprecher, founder, chairman and CEO at ICE, remarked:

“David Clifton has been deeply engaged in lots of our most essential initiatives over time and, after serving to to steer the acquisition of Bridge2 to speed up the rollout of Bakkt’s shopper utility, I do know he’ll present excellent management for Bakkt as its Interim CEO.” 

Sprecher added:

“I additionally wish to specific our gratitude to Mike Blandina for his work to assist develop Bakkt throughout an essential transformational interval for the corporate and need him all the most effective in his new endeavor.”

Bakkt lately secured $300 million in capital via a Sequence B funding spherical led by Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Companions, CMT Digital, Pantera Capital, and the Intercontinental Alternate (NYSE:ICE).

Intercontinental Alternate (ICE), the proprietor of the world’s largest inventory trade, the New York Inventory Alternate (NYSE), with a market cap of virtually $23 trillion, revealed in February 2020 that it posted a file FY 2019.

In keeping with its fourth quarter earnings name, ICE’s fourth-quarter earnings per share (EPS) grew 1% year-over-year from $0.94 per share to $0.95 per share.

Jeffrey Sprecher, CEO at ICE, said (in February 2020):

“We’re happy to report our 14th consecutive yr of file revenues. Leveraging our main expertise and market experience, we expanded our suite of danger administration options, including new services and products throughout an array of asset courses and geographies.”