Crypto

Former Bakkt CEO Allegedly Made Millions After Receiving Insider Coronavirus Information

There is never a shortage of drama and speculation in the cryptocurrency world. Former Bakkt CEO Kelly Loeffler is now accused of insider trading.

A lot of people are making good money during the novel coronavirus crisis.

Former Bakkt CEO has Some Explaining to do

Some may have done so due to insider information, including the former CEO of Bakkt

.

Kelly Loeffler sold millions of dollars in stock holdings following a Coronavirus briefing in late January of 2020.

That meeting could only be attended by senators, as Loeffler is a Junior US Senator today.

Many people she effectively sold the stocks following the meeting by leveraging information disclosed during the meeting.

Related Post

A week or so later, all markets began to crash and are still waiting to recover today.

Selling stocks on the same day as the private senator meeting is perhaps a coincidence.

When millions of dollars are at stake, however, that is not necessarily the case.

In the following weeks, more stocks were liquidated by the former Bakkt CEO and her husband alike.

While it is not illegal to sell millions of dollars in stocks, doing so based on insider information is a criminal offense.

No charges have been filed yet, but US regulators have taken a keen interest in the matter.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Solana’s $3.2M Entrepreneur Story & BlockDAG’s $1 Potential

How Solana Transformed an Entrepreneur’s Life & Why BlockDAG Could Be the Next Millionaire Maker…

7 hours ago

SOL Market Cap Hits $100 Billion as Possible Infinaeon Long-Term Price Targets Surge

The SOL price has surged to well over $200 as its market capitalization exceeded $100…

12 hours ago

Binance Coin Whales Reap Big Profits as Polkadot Struggles; A New Crypto Presale Is Dominating Investor Attention

BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…

14 hours ago

Three Crypto That Surprised The Market: Rollblock, Cardano, and XRP

The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…

14 hours ago

As Bonk (BONK) and Pepe (PEPE) Shine, Rollblock (RBLK) Captures the Market’s Attention With Upcoming Reveal

Meme coins are back with a bang and are as insanely volatile as ever! Bonk…

14 hours ago

2024’s Top 9 Crypto Staking Platforms to Make Passive Income

Staking has become one of the most effortless ways to generate passive income in the…

17 hours ago