ICE’s Crypto Platform Bakkt Ropes In Ex-Coinbase Executive Adam White
Adam White, cryptocurrency exchange Coinbase’ former head of institutional platform group, is joining Intercontinental Exchange’s (ICE) platform Bakkt.
The news was disclosed by news outlet The Block, which has cited unnamed sources familiar with the developments.
Back in October, White left Coinbase, without providing detail for the sudden resignation. However, Coinbase spokesperson stated that the company was “extremely sad to see him go.”
According to The Block’s source, Bakkt has roped in White as its Chief Operating Officer.
In August, the Intercontinental Exchange, the operator of the New York Stock Exchange (NYSE), surprised the market with its announcement of the crypto trading platform Bakkt. The platform is being developed in partnership with Microsoft and Starbucks.
White, the fifth employee of Coinbase, has been associated with the company for nearly five years. He joined the team when the firm was operating in a single-bedroom apartment and Bitcoin (BTC) was changing hands at roughly $200. During this period, the company introduced a number of services aimed at big institutional clients, such as index fund and custodian services.
The exchange, valued at $8 billion according to certain reports, has employed several high-profile executives in the last few months. Notable appointments include Chris Dodds, board member of the Charles Schwab bank, in October, and Brian Brooks, Fannie Mae’s former General Counsel, in September, as the new Chief Legal Officer.
Furthermore, Tim Wagner, former Amazon Web Services (AWS) and Microsoft employee joined Coinbase as vice president (VP) of engineering.