Adam White was there from the beginning when Bakkt was launched. The company has accomplished a great deal under his leadership. White’s responsibilities included overseeing digital asset markets, custody, and trading, as well as Bakkt’s strategic direction.

Bakkt Holdings Inc (NYSE: BKKT) President Adam White has announced his resignation from the digital asset brokerage firm. White announced on Thursday that he will be leaving Bakkt as soon as next week in a tweet. The reason for his departure and his future plans are unknown.

Adam White began working with Bakkt in 2018. Prior to Bakkt, he was Vice President and General Manager of Coinbase Inc (NYSE: COIN), the largest digital currency platform in the United States. Bakkt CEO Kelly Loeffler expressed excitement about their relationship as he welcomed Adam White on board. He aimed to lessen the risk of investing in Bitcoin (BTC) at the time by prefunding all trades. Furthermore, the platform planned to create a fully-funded independent guaranty fund for Bitcoin, removing the possibility of default. This was the motivation behind the creation of Bakkt.

Bakkt’s Contributions During White’s Reign

Bakkt is a custody service that keeps Bitcoin in a secure manner, sometimes known as cold storage. As a creation of the New York Stock Exchange (NYSE). Bakkt was announced in August 2018, however it did not go live until September 2019. Bakkt drives commerce by enabling people, organizations, and institutions to unlock value from digital assets. It has over 500,000 early-access participants, access to 250 merchant partners, and approximately 100 institutional clients.

Adam White was there from the beginning when Bakkt was launched. The company has accomplished a great deal under his leadership. White’s responsibilities included overseeing digital asset markets, custody, and trading, as well as Bakkt’s strategic direction. His experience in the cryptocurrency markets provided him with a unique perspective that aided in the development of the platform’s company. In 2019, the company announced an indirect relationship with Starbucks to allow customers to recharge their Starbucks Cards and buy coffee with Bitcoin. It was the first of several similar projects to go live. Bakkt currently works with more than 30 loyalty program sponsors and more than 200 gift card merchants.

Mastercard Inc (NYSE: MA), Finastra, Choice Hotels, Google LLC (NYSE: GOOG), Quiznos, and others are among Bakkt’s other partners.

Bakkt, which is managed by Adam White, is notable for becoming the second crypto startup to be listed on the stock exchange. Furthermore, Bakkt combined with VPC Impact Acquisition Holdings, a special purpose acquisition company (SPAC), and became public in October of this year. It is currently quoted on the New York Stock Exchange under the ticker symbol “BKKT.”

The company is currently going through a rough patch. Its stock price was $10.00 at Thursday’s close, down from an all-time high of $42.52 on October 29, when the company only recently began trading on the NYSE.