Bakkt Taps Former IBM and Cisco Exec Tom Noonan to Chair Its Board

He will be accompanied by Akshay Naheta, managing partner at Softbank; Sean Collins, managing partner at Goldfinch Partners; ICE CEO and chairman Jeff Sprecher; and Kelly Loeffler, Bakkt’s head. Noonan is already a member of ICE’s own board of directors. Typically, regulations require that customer funds are actually held by banks, trust companies or futures commission merchants. While CFTC staff have been reviewing Bakkt’s proposal since last year, it is unclear where the process stands. The CFTC is expected to publish Bakkt’s proposal for a 30-day public review period, after which the commissioners will vote to approve or disapprove. As such, Bakkt is unlikely to launch before May. “We continue to work with regulators to address the emerging global landscape for digital assets,” Loeffler wrote. Casey, Kelly Loeffler and Jeffrey Sprecher image via BlockchainNews archives