Donald Trump’s Media Company in Advanced Talks To Buy Crypto Trading Exchange Bakkt: Report
A social media company that’s majority-owned by US President-elect Donald Trump is reportedly in talks to acquire Bakkt, a crypto trading and custody firm backed by Intercontinental Exchange Inc.
The Financial Times, citing “two people with knowledge of the talks,” reports that the Trump Media and Technology Group, which operates Truth Social, a microblogging platform, is in the advanced stage of talks to acquire Bakkt for an undisclosed amount in an all-stock deal.
As of the market close on November 18th, Trump Media & Technology Group Corp (NASDAQ: DJT) had a market capitalization of $7.12 billion while Bakkt Holdings Inc (NYSE: BKKT) had a market value of approximately $402 million.
The Financial Times reports that…
