The CEO of Bakkt, the digital assets platform owned by Intercontinental Exchange (ICE), is stepping down from his post four months after being named to the post.
ICE said in a statement on Thursday that David Clifton, its vice president for M&A and integration, will serve as interim CEO. "Clifton replaces Mike Blandina, who is leaving the company to pursue a new opportunity. Adam White, who was appointed President of Bakkt earlier this year, will continue in his role," ICE said in its release.
Blandina was put in the CEO spot in December to replace outgoing CEO Kelly Loeffler following her appointment to the U.S. Senate.
"David Clifton has been deeply engaged in many of our most important initiatives over the years and, after helping to lead the acquisition of Bridge2 to accelerate the rollout of Bakkt's consumer application, I know he will provide outstanding leadership for Bakkt as its Interim CEO," Jeffrey Sprecher, ICE's founder, chairman and CEO, said in a statement. "I also want to express our gratitude to Mike Blandina for his work to help grow Bakkt during an important transformational period for the company and wish him all the best in his new endeavor."
Bakkt completed a $300 million Series B funding round in mid-March.