Former Bakkt CEO Kelly Loeffler Loses Senate Seat

Former Bakkt CEO Kelly Loeffler Loses Senate Seat


Former Bakkt CEO Kelly Loeffler (R-Ga.) will not return for a full term as a U.S. Senator, AP projected Wednesday.

Loeffler, who ran against Democrat Raphael Warnock, left the crypto warehousing company late in December 2019 to fill former Sen. Johnny Isakson’s seat, after Isakson (R-Ga.) stepped down due to health concerns.

Tuesday’s special election will determine the fate of the Senate; alongside Loeffler and Warnock, Jon Ossoff (D-Ga.) and Sen. David Perdue (R-Ga.) ran for Georgia’s other Senate seat. Both Democrats winning clears the way for President-elect Joe Biden to enact his agenda by creating a 50-50 split (with Vice President-elect Kamala Harris acting as tiebreaker) in the upper house. 

However, either Republican winning would allow current Sen. Mitch McConnell (R-Ky.) to enjoy another two years running the Senate, where he could control key confirmation votes for both Biden’s legislative agenda as well as for Cabinet nominees, such as Janet Yellen, Biden’s pick to

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