Trump Media and Technology Group (DJT.O), opens new tab, which operates Truth Social, is close to an all-stock acquisition of Bakkt, the report said.
Shares of Bakkt, backed by NYSE-owner Intercontinental Exchange (ICE.N), opens new tab, soared nearly 66% in late afternoon trading, before being halted for volatility.
Trump Media and Bakkt did not immediately respond to Reuters’ requests for comment. Intercontinental Exchange declined to comment.
A deal would help consolidate Trump’s involvement with an industry that he championed in the run-up to the U.S. presidential election.
The president-elect has also launched a new crypto venture, World Liberty Financial.
Visit Harraiya times for Latest Cryptocurrency News, Financial News and Sports News. Follow us on Facebook, X ( Twitter ), Instagram and LinkedIn.
1 thought on “Donald Trump’s social media company is in advanced talks to buy crypto trading firm Bakkt (BKKT.N), opens new tab, the Financial Times reported, opens new tab on Monday, citing two people with knowledge of the talks”