Shares of Bakkt soared on Monday following reports that Donald Trump’s media company is in advanced discussions to acquire the cryptocurrency exchange.
According to the Financial Times, Trump Media and Technology Group, the operator of Truth Social, is considering an all-share acquisition of Bakkt, which is owned by Intercontinental Exchange.
The rumored deal, which remains unconfirmed, marks another potential move by Trump into the crypto space. His campaign has pledged to ease regulatory pressures on the industry and build a Bitcoin reserve.
Trump has already engaged in cryptocurrency initiatives, including licensing his image for NFTs and backing World Liberty Financial, a family venture expected to generate 75% of project fees for him and his family.
Bitcoin prices have surged by around 30% since Trump’s recent election victory, as the market reacts to his pro-crypto policies.
Despite the hype, Bakkt faces challenges, including a valuation of $400 million after the stock rally and ongoing profitability issues. Its crypto custody services, which have underperformed, are reportedly excluded from the potential deal. Intercontinental Exchange declined to comment, while neither Bakkt nor Trump Media responded to inquiries.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.