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Loeffler Reported Receiving $9 Million Worth of Awards from Bakkt Before Entering the Senate

Yiran Dai

Summary: The New York Times reported today that Kelly Loeffler, a junior United States Republican senator for Georgia since January 2020, has received stock and other awards worth more than $9 million from her previous company, Bakkt, after she left her CEO position for the Senate.

The New York Times reported today that Kelly Loeffler, a junior United States Republican senator for Georgia since January 2020, has received stock and other awards worth more than $9 million from her previous company, Bakkt, after she left her CEO position for the Senate. 

Launched in 2018, Bakkt is the digital asset platform subsidiary to Intercontinental Exchange (ICE), which owns the New York Stock Exchange. Current CEO of the ICE is Jeffrey Sprecher, who married Kelly Loeffler in 2004.

Loeffler was involved in the insider trading controversy when she sold millions of shares in an early stage of the coronavirus outbreak before the stock market crash caused by fears of the pandemic.

By Yiran Dai

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