Donald Trump's Trump Media To Acquire Crypto Trading Site
Donald Trump’s social media group Trump Media is in talks to acquire crypto trading venue Bakkt (BKKT), a crypto platform owned by Intercontinental Exchange. According to sources familiar with the matter, the US president-elect’s Trump Media and Technology Group is close to an all-stakes purchase in Bakkt. JUST IN: President-elect Donald Trump's $DJT in advanced talks to purchase crypto trading platform Bakkt. — Watcher.Guru (@WatcherGuru) November 18, 2024 The valuation for the purchase remains unclear, but Bakkt’s market capitalization stood at just over $150M on Monday. Trump Media and Technology is one of the biggest growing stocks since the US election, where the namesake man won the Presidential nomination. TMTG has a $6bn equity valuation, giving its management a considerable stockpile to make purchases like the one in Bakkt. With the President-elect’s recent decision to maintain his 53% stake in Trump Media, the purchase of Bakkt would solidify Trump’s n...