Trump Media is reportedly in advanced negotiations to acquire Bakkt, a cryptocurrency trading firm, causing a surge in the stocks of both companies. The deal aligns with Trump’s expanding interest in cryptocurrency and could be a strategic move to solidify his footprint in the crypto world. Bakkt, founded in 2018, has faced financial challenges but reported $328.4 million in revenue for its latest fiscal quarter.
The potential acquisition of Bakkt by Trump Media highlights the growing intersection of politics and cryptocurrency.