BREAKING: Very Important Development – Donald Trump’s Company is Allegedly About to Buy a Cryptocurrency Trading Company
According to breaking news, Donald Trump's social media company is in advanced talks to acquire Bakkt, a cryptocurrency trading venue owned by the intercontinental exchange.
President-elect Donald Trump's social media company, Trump Media and Technology Group (TMTG), is reportedly in advanced talks to acquire Bakkt, a cryptocurrency trading platform owned by the Intercontinental Exchange (ICE).
Sources familiar with the matter said TMTG was looking to buy all of Bakkt’s shares. The value of the deal remained unclear, with Bakkt’s market value currently at around $150 million.
TMTG, which has an equity value of $6 billion, has seen increased trading activity since Trump’s election victory despite reporting revenue of just $2.6 billion this year. Its high valuation gives the company a strong source of money for acquisitions.
Following the news, Bakkt shares rose by 86% and TMTG shares rose by 14%.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin's Nosedive to Under $100K Shaves $700M Crypto Longs, XRP Drops 5%
BTC fell under $100,000 in late U.S. hours before slightly recovering during early Asian hours Thursday, as the Federal Reserve hinted at a few rate cuts in 2025. Fed chair Jerome Powell then said at a post-FOMC press conference that the central bank wasn’t allowed to own bitcoin under current regu
Megabit will officially launch PENGU USDT perpetual contract at 20:00 today
Trending news
MoreCrypto prices
More
