Ex-CEO Bakkt faces stiff competition in the expected November US elections


Republican Senator and former Bakkt CEO Kelly Loeffler could find a better-organized and more supportive Democratic candidate in the upcoming November election.

The first results of the June 9 Democratic primary are still being received and will determine who will take David Perdue’s seat in the U.S. Senate in Georgia. However, so far, Democrat Jon Ossoff leads the list of seven candidates for the Senate with 334,511 votes and 91% of the information constituencies.

Loeffler and his Republican and Democratic opponents were not in the first bulletin at the time of this writing, but there are indications that Georgia may be turning blue sooner rather than later, threatening its chances for re-election in November.

U.S. Senator Loeffler Under Fire for Improper Trade After Coronavirus Hearing

In the 2016 presidential election in Georgia, a total of 4,141,447 votes were cast and Hillary Clinton received 45.35% of the vote, but eventually lost to Trump. However, the election between Democrat Stacey Abrams and Republican Brian Kemp in 2018 also saw a record turnout in the state since 1966.

The expected election later this year in which Loeffler’s position is at stake is likely to have a similar boost from the Democrats. Loeffler’s close ties to Trump, whose approval ratings have fallen to new lows in the midst of his response to the pandemic and protests against the police, hurt his chances in a nationalized election.

This November, Georgia’s Senate election will be rather free, with candidates from both parties appearing on the same ballot November 3. At this time, Republican Doug Collins and Democrats Raphael Warnock and Matt Lieberman remain some of the most serious contenders for Loeffler’s seat.

If no one receives a majority of the vote in November, the top two finishers will face off in a runoff in January 2021.

Appointed, not elected

Cointelegraph reported in December 2019 that Governor Kemp named Loeffler as the ideal “pro-second amendment, pro-wall, pro-Trump” conservative to replace former Senator Johnny Isakson. Prior to this appointment, Loeffler was the CEO of Bitcoin’s institutional futures platform (BTC) Bakkt.

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Although senators are usually elected, the 17th Amendment to the U.S. Constitution allows the executive authority of the states to fill temporary vacancies until an election can be held, provided that “the legislature of any state may empower the executive thereof to make temporary appointments.

Alleged insider trading during the pandemic
In late January, Loeffler sold nearly $250,000 in personal stock after attending a closed-door meeting of the Senate Health Committee on the impact of a possible pandemic.

He later claimed the sales occurred without his knowledge. However, another Georgia senator, Perdue, was also accused of profiting from the crisis by buying shares of a company that produces essential PPE.

Despite the controversy, the senator was granted yet another appointment by an executive authority: Trump appointed her to a special task force for the reopening of the economy after COVID-19, an appointment that some Twitter users have compared to the wolf watching the henhouse.

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