Donald Trump’s social media company, Trump Media and Technology Group (DJT), is in advanced talks to buy Bakkt (BKKT), a cryptocurrency trading venue owned by IntercontinentalExchange (ICE), two people with knowledge of the talks told Financial Times’ Philip Stafford. Trump Media, which operates Truth Social, is closing in on an all-share purchase of Bakkt, the report said, citing sources. The valuation under discussion was not immediately clear but Bakkt’s market capitalisation stood at just over $150M on Monday, FT added.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DJT:
- Short Sellers Are Back to Targeting Trump Media (NASDAQ:DJT) Stock
- Trump Media announces all TV streaming data centers operational
- StockTok: Meta concedes to EU regulators, to face antitrust trial in the U.S.
- Trump Media (DJT) Executives Sell Company Stock after U.S. Election
- Short Sellers Are Closing In on Trump Trades Rumble (NASDAQ:RUM) and Phunware
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
