The Chairman of the New York Stock Exchange, Jeff Sprecher, has described Bakkt – a platform for Bitcoin trading – as a “moonshot bet” for NYSE’s parent company, International Exchange.

Even though there have been a few setbacks regarding the inauguration of the trading platform, Jeff Sprecher is still very hopeful that the company, Bakkt, will grow to reach heights that it is currently being developed to reach. Sprecher has said that “It’s a bit of a moonshot bet and it’s been organized in a manner that is very different than the way ICE (International Exchange) typically does businesses.”

Sprecher, going on to reveal that the trading service will operate differently, said that “Bakkt has its own offices, its own management team, etc. They’re well along in building out an infrastructure that I think you’ll see launch later this year.”

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<h3>Sprecher’s Investment In Bakkt</h3>
<p>Bakkt is currently being bankrolled by a combination of the International Exchange, Starbucks, Microsoft and BCG. This is probably one of the reasons Sprecher is confident about how well the company will perform in the near future.</p>
<p>Also, the fact that the company’s CEO is Kelly Loeffler, who is Jeff’s wife, could mean that Jeff is trying to keep a close eye on the company and monitor its operations even if he can’t always be there physically.</p>
<h3>About Bakkt</h3>
<p>The trading platform was supposed to kick off in January but this was suspended as a result of the shutdown the United States government experienced. Bakkt, is also designed to deliver and process Bitcoin in such a way that is free from scam or general exploitation in the market.</p>
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<p>With regards to funding, Sprecher has revealed that the International Exchange is the chief financial backer. Nonetheless, there are plans to continue to source for more financial support for the platform in the near future.</p>
<p>One of the reasons for this is probably because according to ICE’s Chief Financial Officer, Scott Hill, Bakkt’s expenses in the first quarter will reach the $20 million mark. Speaking during an ICE conference call, Scott said</p>
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<p>Resourse: https://bitcoinexchangeguide.com/new-york-exchange-chairman-optimistic-about-ices-moonshoot-bet-in-bakkt-and-crypto-future/</p>
<h3>July is National Ice Cream Month</h3>
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New york exchange chairman optimistic about ice’s moonshoot bet in bakkt and crypto future
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