🚨 TRUMP MEDIA GROUP AND CRYPTO MARKET: TALKS TO PURCHASE BAKKT 💰🔥

Trump Media and Technology Group (TMTG), led by President-elect Donald Trump, is in advanced discussions to acquire crypto trading platform Bakkt, owned by Intercontinental Exchange (ICE), according to the Financial Times.

📊 DEAL DETAILS

• Stock acquisition: TMTG intends to diversify its operations and enter the cryptocurrency market.

• Immediate impact: Bakkt's share price has risen an impressive 165% to $29.

• Exclusion from custody business: Bakkt's struggling crypto custody service will be left out of the deal.

🔍 WHAT DOES THIS ACQUISITION MEAN?

1️⃣ Platform for institutional investors: With Bakkt, TMTG gains access to an infrastructure focused on major market players.

2️⃣ Expansion into the crypto sector: This complements Trump's projects in the sector, such as World Liberty Financial, a credit platform based on stablecoins.

3️⃣ Strategic appreciation: Despite its financial difficulties, Bakkt has connections with major institutions such as the New York Stock Exchange and has close allies of Trump, such as its first CEO, Kelly Loeffler.

📉 BAKKT'S CHALLENGES

• Minimal revenues: Only $328,000 in Q3 2023, with an operating loss of $27,000.

• Almost delisted: Bakkt avoided being delisted from the NYSE after a 1-for-25 reverse split.

⚡ IN BRIEF:

The acquisition of Bakkt represents a bold move by TMTG to solidify its presence in the crypto space and diversify its operations. Despite Bakkt’s financial challenges, its institutional focus and strategic connections could offer significant value to Trump’s group.

Watch out: the crypto market may never be the same! 🚀