Trump Media and Technology Group (TMTG), the parent company of Truth Social, is in advanced discussions to acquire the crypto trading platform Bakkt, according to a report from the Financial Times.

The potential all-stock deal would see TMTG absorb Bakkt, whose market capitalization stood at just over $150 million on Monday. TMTG, despite minimal revenue, boasts a $6 billion equity valuation fueled by retail investor interest following Trump’s re-election.

Bakkt was set up by Intercontinental Exchange, which owns large derivatives exchanges, plus the NYSE, with the initial goal of helping Starbucks customers buy coffee with bitcoin (BTC).

Future U.S. Senator Kelly Loeffler was its first CEO. It finally introduced a digital wallet in 2021, which was discontinued last year. Bakkt is now focused on crypto custody and trading services. In February, Bakkt said it did not have cash in hand to fund even 12 months of the operation.

Shares of Bakkt Holdings Inc (BKKT) ended up jumping 160% on Monday following the report.

Talks of the acquisition follow Trump’s recent promotion of World Liberty Financial, a DeFi platform tied to the Trump family. A deal could impact Bakkt's future direction and potential role within Trump's expanding media empire, including its focus on bitcoin.

As such, Bakkt’s crypto custody business, which holds digital assets like bitcoin and ether, has struggled and will be excluded from the acquisition. The move comes amid a surge in crypto markets following Trump's victory, with bitcoin up over 30% in the past 30 days.

On a separate note, the Wall Street Journal reported that President-elect Trump is planning on meeting Coinbase CEO Brian Armstrong.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。