Mike Blandina, a former PayPal and Google veteran, steps down as CEO of the digital asset company Bakkt after only four months.
Bakkt’s parent company, Intercontinental Exchange or ICE, has announced that its vice president of mergers and acquisitions, David Clifton, will succeed Blandina as the company’s CEO. The company’s president, Adam White, will remain in office on April 23, an announcement.
Blandina’s plans for the future were not explained in more detail in the new press release. He only remarked that he was “leaving the company to look for a new opportunity”.
The role of the new CEO
Clifton joined ICE in 2008. In 2013, he reportedly played a leading role in the acquisition of NYSE Euronext. He will now focus on completing the integration of Bridge2 Solutions. Bridge2 is a leading provider of retail and loyalty solutions that Bakkt acquired in early February 2020. Jeffrey Sprecher, President and CEO of ICE, added:
“David Clifton has been instrumental in many of our biggest initiatives over the years. After supporting the acquisition of Bridge2 to accelerate the introduction of the Bakkt consumer application, I know that he will take a leading role in Bakkt as interim CEO. “
In 2019, Bakkt partnered with ICE to launch the first fully regulated market for bitcoin futures and options for global institutions. The company is currently developing a retail app that allows users to convert reward points into an expendable digital currency.
As Cointelegraph previously reported, Blandina joined Bakkt a year ago as a product manager. After the creation of CEO Kelly Loeffler, who took up a seat in the United States Senate, he was promoted to CEO. Early December last year.