Donald Trump’s media venture, the Trump Media and Technology Group (TMTG), is reportedly in advanced negotiations to acquire Bakkt, a crypto trading platform owned by the Intercontinental Exchange (ICE). Trump Sets Sights On Crypto Expansion According to sources familiar with the ongoing discussions, TMTG is considering an all-share purchase of Bakkt, although the exact valuation remains unclear. As of Monday, Bakkt’s market capitalization was just over $150 million. Related Reading: The Year Of Solana: 2024 Sees Global Crypto Love Surge Nearly 40% TMTG, which Trump has pledged to maintain a 53% stake in, has gained considerable attention in the stock market since the former president’s election victory on November 5. Despite reporting only $2.6 million in revenues this year, TMTG boasts an equity valuation of $6 billion, providing it with a robust currency for potential acquisitions. Following the announcement of the acquisition talks, Bakkt’s shares jumped 86%, reflecting investors’ optimism about the potential acquisition. TMTG’s share price also rose significantly by around 14%. TMTG Explores All-Share Purchase Of Bakkt Founded by ICE, Bakkt was initially designed to facilitate a range of crypto ..
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