Kelly Loeffler was sworn in to the US Senate on 6th January. The former CEO of the Bakkt exchange joined the Senate Agriculture Committee that overlooks the Commodity Futures Trading Commission, as reported by farm and policy publication Agri-Pulse.
CFTC regulates Intercontinental Exchange’s markets.
Kelly Loeffler, who is also the spouse of CEO and founder of Intercontinental Exchange Jeffrey Sprecher, might face conflict as she will overlook CFTC that regulates ICE’s markets. Loeffler said that she would do her best to comply with both the letter and the spirit of the Senate’s ethics rules. She was appointed into the committee at a time when the agriculture committee is working on legislation to reauthorize the CFTC.
Loeffler worked for ICE for 16 years.
Kelly Loeffler worked for Intercontinental Exchange for 16 years before becoming the CEO of the bitcoin futures exchange Bakkt. Some analysts believe that appointing Kelly Loeffler to overlook CFTC might be controversial as she has personal interest vested in ICE. Loeffler told WSJ that if needed, she will rescue her self on a case by case basis. The new CEO of the bitcoin futures exchange is Mike Blandina, who replaced Kelly Loeffler in December. And the former COO of Bakkt Adam White was appointed as the President of the futures exchange.