Trump Media in Talks to Acquire Bakkt, Sending Stock Soaring
19.11.2024 13:30 1 min. read Alexander Zdravkov
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.
-
1
Pump.fun Faces Decline Amid Lawsuits and Hacking Scandals
30.03.2025 10:00 2 min. read -
2
Crypto Adoption Soars in South Korea as Investor Numbers Reach 16 Million
31.03.2025 10:00 2 min. read -
3
MARA Holdings Launches $2 Billion Stock Offering to Expand Bitcoin Stash
30.03.2025 16:06 1 min. read -
4
Binance Suspends Employee Over Insider Trading Allegations
25.03.2025 13:19 1 min. read -
5
DeFi TVL Drops in Q1 2025 as AI and Social Apps Gain Momentum
04.04.2025 14:00 2 min. read
Trump’s Threat to Fire Fed Chair Raises Alarms Over Market Stability and Crypto Impact
Anthony Pompliano has voiced strong opposition to Donald Trump’s recent push to remove Federal Reserve Chair Jerome Powell, warning that such a move could damage the credibility of the U.S. financial system.
U.S. State Targets Coinbase as Federal Crypto Crackdown Fades
As Washington pulls back on its crypto enforcement, Oregon is stepping up.
Hidden Road Secures U.S. Broker-Dealer License Following Ripple Acquisition
In a move that underscores its ambition to bridge crypto and traditional finance, Ripple is expanding the role of its newly acquired prime brokerage platform, Hidden Road.
JUST IN: Asia’s First XRP Tracker Fund Debuts with Ripple Backing
HashKey Capital has officially launched Asia’s first XRP Tracker Fund, providing professional investors with regulated exposure to XRP without the need for direct ownership.
-
1
Pump.fun Faces Decline Amid Lawsuits and Hacking Scandals
30.03.2025 10:00 2 min. read -
2
Crypto Adoption Soars in South Korea as Investor Numbers Reach 16 Million
31.03.2025 10:00 2 min. read -
3
MARA Holdings Launches $2 Billion Stock Offering to Expand Bitcoin Stash
30.03.2025 16:06 1 min. read -
4
Binance Suspends Employee Over Insider Trading Allegations
25.03.2025 13:19 1 min. read -
5
DeFi TVL Drops in Q1 2025 as AI and Social Apps Gain Momentum
04.04.2025 14:00 2 min. read
