Trump Media is reportedly in "advanced talks" to buy the cryptocurrency trading firm Bakkt , the Financial Times reported Monday, cit

Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring

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2024-11-18 21:30:18

Trump Media is reportedly in "advanced talks" to buy the cryptocurrency trading firm Bakkt , the Financial Times reported Monday, citing two people with knowledge of the talks.

Trump Media, which is majority-owned by President-elect Donald Trump, shot up by double digits minutes after the FT report was published.

Shares of Bakkt — which was created by Intercontinental Exchange , the owner of the New York Stock Exchange — skyrocketed more than 162% amid repeated trading halts due to volatility.

Loeffler, who is married to Intercontinental Exchange CEO Jeffrey Sprecher, left as Bakkt's top executive in 2019 when Georgia Gov. Brian Kemp appointed her to the U.S. Senate seat vacated by Sen. Johnny Isakson, who resigned due to health reasons.

Trump Media has seen its market value rise and fall by billions of dollars in the run-up to the 2024 presidential election, as retail investors bet on the Republican's momentum and political prospects.