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Bakkt CEO Loeffler to step down after being named to US Senate

Bakkt CEO Kelly Loeffler will step down from the digital currency startup after being named to replace Georgia Sen. Johnny Isakson, who is retiring at the end of 2019. 

Intercontinental Exchange Inc., which owns a majority stake in Bakkt, thanked Loeffler for her extensive run with Bakkt and her role as a marketing, communications and investor relations roles within Intercontinental Exchange, as well as her status as a member of the executive management committee.

"We are grateful to Kelly for her many contributions to Intercontinental Exchange spanning 17 years and will miss her wisdom and counsel on the executive team and leadership of Bakkt," Josh King, a spokesman for Intercontinental Exchange, said in a company release. "Intercontinental Exchange has a proud tradition of service to the community, and we applaud Kelly's sense of duty to step forward to serve her country and represent the people of Georgia in the U.S. Senate. 

The senior management of both companies will work together closely after Loeffler leaves her post. There is no immediate word on a successor. 

Bakkt announced earlier this year that Starbucks would be the first launch partner of its consumer crypto rollout in 2020.