Trump Media To Acquire Crypto Platform Bakkt In All-stock Deal
Trump Media and Technology Group (TMTG), the parent company of Truth Social, is reportedly in advanced discussions to acquire crypto trading platform Bakkt, according to the Financial Times.
The all-stock deal would absorb Bakkt, currently valued at just over $150 million, into TMTG, which boasts a $6 billion equity valuation largely driven by retail investor enthusiasm following Donald Trump’s re-election.
Bakkt was established by Intercontinental Exchange (owner of the NYSE) to enable Starbucks customers to purchase coffee with Bitcoin. Over time, it shifted its focus to crypto custody and trading services but has faced financial struggles, including an announcement in February that it lacked funds to operate for another 12…
