Donald Trump’s media company, Trump Media & Technology Group (TMTG), is in advanced talks to acquire cryptocurrency trading platform Bakkt. This deal would see TMTG fully acquire Bakkt, with Trump retaining 53% of its shares. The news has caused shares of both companies to soar. Bakkt, which was launched in 2018 and listed in 2021, provides technical services to cryptocurrency investors but has struggled to turn a profit.
The potential acquisition highlights Trump’s interest in the cryptocurrency industry, which has been reflected in the market and the stock performance of TMTG and its associated projects.
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