Trump Media Close to Acquiring Crypto Platform Bakkt as Political Influence Grows
Donald Trump's media company is nearing an all-stock deal to buy cryptocurrency trading firm Bakkt, signaling deepening ties with the crypto industry.
Meet the Crypto Cronies Getting Cozy With Trump
Rolling Stone
Trump social media group in talks to purchase crypto trading platform Bakkt
The Post Millennial
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Overview
Trump Media and Technology Group (TMTG) is reportedly in advanced talks to acquire Bakkt, a cryptocurrency trading platform, in an all-stock deal. This move, anticipated to strengthen Trump's position in the crypto market, comes amidst rising stock prices for both companies following the news. Bakkt's shares surged over 162%, while TMTG experienced a 16% increase before facing a slight decline. The deal involves connections with former Bakkt CEO Kelly Loeffler and highlights Trump's shift toward pro-crypto policies and support from high-profile industry figures as he seeks to become a significant player in the cryptocurrency space.
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