Bakkt President Adam White Announces His Departure

The founding executive is leaving the Wall Street bitcoin firm. Where to next is unclear.

AccessTimeIconDec 23, 2021 at 3:09 p.m. UTC
Updated May 11, 2023 at 7:10 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Adam White, the president of cryptocurrency firm Bakkt, is leaving the company he helped build from scratch as a founding executive.

White spent the last three years at Bakkt, a company that launched in 2018 with the ambitious aim of making institutional crypto adoption a reality before pivoting to a suite of more retail-focused products.

  • Key Events You Shouldn't Miss at Consensus 2024
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    What's Next for FIT21?
  • Prior to his time with Bakkt, White was vice president and general manager for five years at cryptocurrency exchange Coinbase.

    “After a great 3+ years at Bakkt, next week will be my last,” White said in a tweet on Thursday. “I’ve loved working at [the] intersection of crypto + markets and good to see the industry finding the balance between innovation & regulation. Lots of work still to do here but never been more optimistic about the future.”

    White did not reveal what opportunities he would be exploring next.

    Bakkt went public in October of this year following a merger with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings, and began trading on the New York Stock Exchange under the ticker symbol “BKKT.”

    Shares in Bakkt spiked around the end of October at above $40, but have since dropped sharply and were trading at $9.10 at the time of writing.

    According to an email sent to Bakkt staff this week that was seen by CoinDesk, White’s “deep expertise in crypto and a commitment to execution and innovation will be sorely missed.”

    “We’re fortunate to have a deep bench of leaders that are well positioned to help Bakkt achieve its vision of connecting the digital economy,” Bakkt CEO Gavin Michael wrote in the email.

    Bakkt, which came charging out the gate with the weight of NYSE-owner Intercontinental Exchange behind it, has struggled to live up to the lofty expectations placed upon it during the crypto bear market in which it was born.

    The company launched with Kelly Loeffler at the helm as CEO before she left the firm in late 2019 to become a U.S. senator from the state of Georgia. She lost her reelection bid in the 2020 cycle.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

    Read more about