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

Week in AI: Fartcoin Steals the Spotlight Amid Market Turmoil

It has been a tumultuous week for the artificial intelligence sector in crypto. Sharp valuation…

20 hours ago

BSC Foundation Resumes Strategic Accumulation: VIXBT, CAKE, LISTA, and MOOLAH Under Spotlight

Following a brief stint of dormancy, the BSC Foundation is back in action, reestablishing its strategic…

2 days ago

Retail Sentiment Signals a Hidden Swing Trading Edge in Crypto Markets

In the rapidly changing field of cryptocurrency trading, technical analysis has reigned for a long…

2 days ago

Solana ETF Buzz Grows with New S-1 Filings, But $SOL Price Remains Cautious

The competition to launch a Solana exchange-traded fund (ETF) gained fresh traction on June 14,…

2 days ago

Amazon Eyes XRP Integration as Legal Verdict Nears and Capital Rotation Accelerates

Years of speculation and steady development in the blockchain space have led to new insider…

2 days ago

Web3 Gaming Holds Its Lead—But for How Long? The Battle for Top Dapp Category Heats Up

In the world of Web3, which is constantly evolving, the gaming sector has long been…

2 days ago