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Trump's Social Media Firm Eyes Crypto Exchange Bakkt

Alpharetta, Georgia, USA,Friday, November 22, 2024

President-elect Donald Trump's social media company is in late-stage talks to buy Bakkt, a cryptocurrency trading platform. This news, reported by the Financial Times, sent both companies' stocks soaring. Trump Media's stock jumped 16%, hitting $32, while Bakkt's stock skyrocketed 162%, trading at $29 before the market closed, triggering a temporary trading halt. Bakkt, based in Georgia, was founded by Intercontinental Exchange, which also owns the New York Stock Exchange.

This potential deal highlights the growing interest in crypto ventures and strategic partnerships. Trump has been embracing digital currencies, accepting crypto donations during his campaign and launching a new crypto venture, World Liberty Financial. The crypto market has been bullish on Trump's election, with Bitcoin nearing $100, 000, anticipating a favorable policy environment.

world liberty financial trump media financial times new york georgia donald

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