Trump Isn’t Sold on Bakkt CEO Kelly Loeffler Becoming US Senator

 Trump Isn’t Sold on Bakkt CEO Kelly Loeffler Becoming US Senator

Gate Trade News Monday, December 2, 2019 9 2

Georgia Governor Brian Kemp is expected to appoint Kelly Loeffler, CEO of institutional Bitcoin (BTC) futures platform Bakkt, for a United States Senate seat next week.

Atlanta’s local news outlet AJC reported on Nov. 29 that Kemp plans to choose Loeffler in a bid to expand the appeal of the Republican party to women. If nominated, Bakkt’s CEO will become just the second woman to serve in the United States Senate from Georgia.

Furthermore, Loeffler could also finance GOP activities with her personal fortune, which the outlet suggests could break fundraising records. 

Bakkt CEO backs Trump

In an apparent effort to try to obtain Republican approval, Loeffler said that she wants to strengthen the border, shut down drug and human trafficking, lower healthcare costs and protect the national interests of the U.S. She added:

“If chosen, I will stand with President Trump, Senator David Perdue, and you to Keep America Great.”

The seat is currently occupied by Johnny Isakson, who will leave the Senate at year’s end because of health problems. Unspecified Republican Party officials allegedly told the outlet that Kemp is expected to publicly announce Loeffler’s appointment at a press conference next week.

But President not a fan of Loeffler

Various party leaders, including President Donald Trump, reportedly pressed to choose U.S. representative Doug Collins instead. Republican leaders have pushed for the appointment of Collins given his strong support for Trump, gun rights and anti-abortion efforts. 

The President and many among his followers are not sold on Loeffler viewing her as too moderate. The outlet also reported that Kemp met with the President and Loeffler last week to try to obtain Trump’s approval of his pick for the Senate seat but to no avail.

Meanwhile, institutional interest in Bitcoin is seemingly increasing with Bakkt having set another new daily volume record trading $42.5M in Bitcoin futures contracts on Nov. 28.