Former SoftBank dealmaker joins crypto trading platform Bakkt as co-CEO

The former manager of the Akshay Naheta bank takes the bar as Bakkt CO-PDG to help revitalize the crypto trading platform in difficulty.

Akshay Naheta, a former SoftBank bank manager, joined Bakkt As an executive co-chief, signaling an effort to transform the American trading and guarding platform of American cryptography.

In a March 19 press releaseThe company said Naheta, who will also join the Bakkt board of directors, will work alongside Andy Main, the current CEO of Bakkt. Before joining Bakkt, Naheta founded Distributed Technologies Research, a company focused on the creation of global payment infrastructure.

“We believe that KSHAY joins the management team and the integration of DTR technology with BAKKT will propel us from a leading crypto technology platform and a liquidity provider in a more complete and more comprehensive platform based on public services and digital trading and payment assets.”

Andy Main

The Naheta company should integrate its payment technology into Bakkt trading and brokerage services, but this will require regulatory approvals. In SoftBank, Naheta conducted an investment of $ 4 billion in Nvidia In 2017, which made $ 3 billion in profits, as well as investments in Arm Holdings.

Bakkt, who became a public in 2021 thanks to a merger with a white check company, experienced a sharp drop in the share of its shares, lowering more than 62% this year. The company has also lost major customers, Bank of America and Webull, although it retains precious regulatory permits, such as the Bitheicais of the New York State Financial Services Department.