Kelly Loeffler, former CEO of the Intercontinental Exchange (ICE) affiliate, best known for her relationship with Bakkt, sold millions in shares a few days after participating in a Senate Health Committee hearing on the fearsome pandemic, COVID-19. . Today people wonder if the Coronavirus infected Bakkt since then.
Recall that, just a few weeks ago, the Coronavirus had a terrible impact on traditional financial markets, including the crypto market. In this way, markets were stained red with exorbitant declines that had not been observed since 1929.
In addition, the former CEO of Bakkt, now a Republican senator, decided to sell more than a million dollars in shares on January 24 within hours of a very important meeting on the Coronavirus. It is very important to note that her husband, Jeffrey Sprecher, is the President of the New York Stock Exchange and CEO of ICE.
It can be seen that Loeffler began to mobilize and build his portfolio since January, before the pandemic spread around the world. However, people suspect that his movements reflect that the Coronavirus infected Bakkt, and the traditional market, from before.
Panic seized the Coronavirus situation!
After Friday, January 24, Loeffler made another 27 sales worth between $ 1,275,000 and $ 3,100,000 over three weeks. These figures were reported and released by a report from The Daily Beast. But this is not all.
On February 14, the current senator bought shares in two companies that are linked to the concept of working from home: Citrix and Oracle. Noting that the first specialized in telework software and the second, a technology company.
An important fact is that the investments in Citrix and Oracle comprised between $ 100,000 and $ 250,000. In addition, Citrix on its website claims to provide the necessary support to keep its customers’ employees safe as operations continue during the Coronavirus pandemic.
Highlighting that among the measures that countries are taking to prevent and control the pandemic, is work from home. Therefore, Loeffler reflects a behavior that the Coronavirus infected the financial market before it realized it, showing symptoms on Black Monday, with the fall of the markets.
Furthermore, shortly after attending the Health Committee meeting, Loeffler went to Twitter to indicate that he appreciated “Today’s briefing by the President’s top health officials on the new Coronavirus outbreak.”
People demand explanations from the former CEO of Bakkt!
Obviously, this generated discomfort in the public. Understandable situation because, if the accusations are true, it would imply that Loeffler used the privileged information obtained by his position in the Senate to manage his portfolio. Preparing before everyone else for the catastrophe, taking advantage of the situation of the Coronavirus.
So, given the pressure of the public, Loeffler was forced to write on Twitter:
“As confirmed in the periodic transaction report to the Ethics Senate, I was informed of these purchases and sales on February 16, 2020, three weeks after they were made.”
Kelly Loeffler on Twitter
He also assured that it is a ridiculous and unfounded attack. He assured that she was not the one who made the decisions about the management of his portfolio. “Investment decisions are made by multiple external advisors, without the knowledge or participation of my husband or myself“He assured on the social network.
However, this has not been enough to calm the public. Some users do not believe it was a coincidence that they bought shares in Citrix, one of the companies that is leading the aid to companies for the Coronavirus.
However, she is not the only one under the gaze. Richard Burr, Chairman of the Senate Intelligence Committee, sold between $ 628,000 and $ 1.7 million in shares on February 13, a week before the market collapsed; The Center for Responsive Politics first reported.
Bad omen for Bakkt?
As we previously reported on CryptoTrend, the situation for Bakkt has been rough for the past few weeks. In fact, not a single Bitcoin options contract was traded last week. Thus demonstrating that the Coronavirus did indeed infect Bakkt, reflected in its symptoms.