Adam White Joins Bakkt as COO: A New Chapter in Crypto Leadership

Rumblings in the Crypto World

The crypto community is buzzing with excitement, as Adam White, previously the head of institutional products at Coinbase, is taking on a key role at Bakkt. According to sources cited by The Block on October 12, White’s new role as Chief Operating Officer at Bakkt marks a significant move in the ever-evolving landscape of cryptocurrency trading.

Leaving Coinbase: A Bittersweet Farewell

After nearly five years at Coinbase, where he was one of the pioneering five employees, White decided it was time for a change. While he declined to provide comments on his departure, a spokesperson from Coinbase expressed their sentiment, stating they were “extremely sad to see him go.” It seems it’s not just White who has mixed feelings!

What’s Bakkt and Why Should We Care?

For those not in the know, Bakkt is a crypto trading platform engineered by the Intercontinental Exchange (ICE), the same folks behind the New York Stock Exchange (NYSE). Launched in August, Bakkt is poised to shake up the industry, boasting partnerships with technological giants like Microsoft and Starbucks. If you thought Starbucks was just about coffee, think again—they’re brewing up crypto solutions!

Building the Backbone of Crypto Services

During his tenure at Coinbase, White was instrumental in launching various essential services aimed at institutional clients, such as custodian services and index funds. As the market matures, services that focus on the needs of large-scale players are becoming increasingly vital. White’s experience and insight will undoubtedly benefit Bakkt as they seek to attract institutional interest.

Recent High-profile Moves in the Crypto Space

White’s hiring isn’t just a singular event. Coinbase has been on a hiring spree lately. Just this October, they welcomed Chris Dodds from Charles Schwab onto their board. In September, former Fannie Mae General Counsel Brian Brooks took the helm as their Chief Legal Officer. And let’s not forget Tim Wagner from AWS and Microsoft, who recently joined as VP of Engineering. Clearly, Coinbase is building quite the all-star team.

Conclusion: The Continual Evolution of Crypto

As Adam White steps into his new shoes at Bakkt, the crypto ecosystem continues to evolve at lightning speed. It will be fascinating to see how his prior experience will shape Bakkt’s offerings. With more seasoned professionals entering the scene, the future of cryptocurrency trading is looking bright—and perhaps a little caffeinated!