Former Crypto CEO Key To US Republican Senate Majority

Senator Kelly Loeffler, the Republican from Georgia, seems to be the key player that the US politics deserve at this point. She needs to win a tight runoff race in January if the party of US President Donald Trump wants to maintain it’s hold on the Senate. The fact that a former crypto CEO (she used to run crypto trading platform Bakkt until last year) plays such an important part in the same week that rumors abound about a QFS Blockchain conspiracy is more than a bit remarkable.

Crypto is front and center in the US election apparently. Ms Loeffler, who received a hefty payout from Bakkt’s parent company Intercontinental Exchange (ICE) earlier this year when she decided to enter politics.

The New York Times, who is clearly not a fan of the woman, claimed that she earned “stock and other awards worth more than $9 million” when she gave up her role as Chief Executive Officer of ICE’s Bitcoin-focused company. As her own husband is the CEO of ICE, Bakkt’s parent company, that was of course not all to surprising. Another role that hubby Jeffrey Sprecher has is that as Chairman of the New York Stock Exchange. Quite the power couple you could say.

Goldman Sachs call

What is more surprising is that this is not the first time this year she’s been in the (negative) spotlight. Earlier this year, as Bitcoin and other cryptocurrencies took quite the nosedive during the 12-13 march selloff that occurred when Europe was locked down for a first time due to Covid-19, rumors started to spread about an infamous Goldman Sachs call.

The infamous investment bank had organized a call with some 1,500 (aka very wealthy people) at the end of February to warn all of them that the stock markets were about to take a deep dive. Four US Senators were reportedly on that call. Loeffler of course was one of them. As she got caught in the crossfire, she declared that she would immediately sell all of the stocks that she had since bought.

In an editorial in the Wall Street Journal, she declared:

Although Senate ethics rules don’t require it, my husband and I are liquidating our holdings in managed accounts and moving into exchange-traded funds and mutual funds. I will report these exiting transactions in the periodic transaction report I file later this month.

QFS Blockchain

And now, as the year draws to a close and Bitcoin nears a all time high, blockchain and crypto are once again in the spotlight of US politics. A former Crypto CEO will decide who runs the Senate whilst conspiracy theories about voter fraud and QFS Blockchain watermarks run amok.

As they say, there’s no such thing as bad publicity, so as a member of the cryptosphere, we’ll take that as well.