Donald Trump’s Media Group Is Close To Buying Beleaguered Crypto Exchange Bakkt

Donald Trump’s Media Group Is Close To Buying Beleaguered Crypto Exchange Bakkt
фото показано с : zycrypto.com

2024-11-20 01:51

Bakkt, the once-promising darling of traditional finance entering the crypto space, could soon be owned by pro-crypto president-elect Donald Trump.

A recent report disclosed that Trump’s media company is in advanced talks to acquire the Intercontinental Exchange-founded trading venue in an all-stock deal.

Trump Deepens Involvement In Crypto

The Financial Times reported on Monday, citing two anonymous individuals privy to the matter, that Trump Media and Technology Group (TMTG), which runs Truth Social, is in advanced discussions for an all-share acquisition of Intercontinental Exchange-owned Bakkt.

Despite raking in a revenue of just $2.6 million year-to-date, TMTG, in which Trump holds a majority 53% stake, boasts a $6 billion equity valuation driven by retail investor interest following the former president winning the presidency.

The Intercontinental Exchange initially created Bakkt intending to help users buy Starbucks coffee with Bitcoin. However, after debuting its first crypto options products, Bakkt shifted focus to crypto custody and trading services. It’s worth mentioning that this custody business, which holds crypto assets like Bitcoin and Ethereum, will be excluded from the potential deal with Trump’s media company.

If the deal goes through, it will represent another key step for Trump to expand his presence in the crypto world. He has already launched several high-profile crypto efforts, including multiple non-fungible token collections and a decentralized finance venture called World Liberty Financial.

The President-elect has also made a number of overt promises, from nurturing the blockchain industry, replacing unpopular regulators like Securities and Exchange Commission chairman Gary Gensler, to creating a strategic Bitcoin reserve.

Bitcoin and the broader crypto market have witnessed bullish momentum ever since Trump secured reelection as the next president of the United States, with BTC soaring over 30% amid heightened hopes of friendly industry legislation under his government. The price of the OG crypto reached a new record high of $94,040 earlier today, per data from CoinGecko.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TrumpCoin (TRUMP) на Currencies.ru

$ 0.0093482 (-1.82%)
Объем 24H $0
Изменеия 24h: 8.36 %, 7d: 6.82 %
Cегодня L: $0.0093482 - H: $0.0093482
Капитализация $61.739k Rank 2306
Доступно / Всего 6.604m TRUMP

donald crypto bakkt trump space entering finance

Источник: zycrypto.com

donald crypto → Результатов: 126


Фото:

Musk denies reports claiming he has been counseling Trump on crypto

Elon Musk denied reports that he had been advising former President Donald Trump on crypto-related matters but reaffirmed his support for digital assets. The Tesla and SpaceX CEO’s public denial came in response to reports from Bloomberg and the Wall Street Journal that claimed Trump is considering Musk for a policy advisory role if he […] The post Musk denies reports claiming he has been counseling Trump on crypto appeared first on CryptoSlate.

2024-5-31 23:19


Фото:

Trump campaign leans in on crypto with new donation page amid shifting political landscape

Former President Donald Trump has begun accepting crypto donations for his re-election campaign, making him the first US Presidential candidate to adopt digital assets for funding. According to a May 21 statement: “This addition to President Trump’s already groundbreaking digital fundraising operation marks the first time a major party Presidential nominee has embraced cryptocurrency for […] The post Trump campaign leans in on crypto with new donation page amid shifting political landscape appeared first on CryptoSlate.

2024-5-22 01:13


Donald Trump Champions Crypto: ‘I’m Good With It, Vote For Me’

On late Wednesday, Donald Trump, the former President and Republican frontrunner, declared his support for cryptocurrencies. This announcement came during a notable gathering at his Mar-a-Lago resort in Palm Beach, Florida, dubbed the Trump Cards NFT Gala, attended by supporters who are holders of NFTs depicting Trump’s name and likeness. During the event, Trump criticized […]

2024-5-9 08:50


Фото:

SEC under Trump would ‘vigorously pursue’ crypto regulation – former regulator says

Former SEC Division of Enforcement Assistant Director Jennifer Lee said on May 2 that Donald Trump’s possible reelection likely won’t change the SEC’s stance on crypto. Lee told CNBC the SEC “vigorously pursued crypto cases” during Trump’s first presidential term and that it brought “daylight and regulation” to the burgeoning industry.

2024-5-4 02:07


Фото:

Crypto owners favor Trump over Biden in 2024 election with 9% divide – POS poll

US voters who own crypto favor Donald Trump in the upcoming 2024 presidential elections, according to a new survey conducted by Public Opinion Strategies on behalf of Paradigm. The research-driven investment firm said on March 14 that 48% of crypto holders plan to vote for Donald Trump, while 39% plan to vote for Joe Biden […] The post Crypto owners favor Trump over Biden in 2024 election with 9% divide – POS poll appeared first on CryptoSlate.

2024-3-15 01:39


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

VanEck officially supports Bitcoin’s strategic reserve

VanEck’s head of digital asset research, Matthew Sigel, officially announced that the asset management firm advocates the concept of Bitcoin’s strategic reserve. Donald Trump’s plan to make Bitcoin the most valuable asset in the nation is gaining support from the…

Trump Media eyes Bakkt deal amid crypto expansion: report

Trump Media is looking to acquire Bakkt’s crypto trading business amid plans of expanding into the crypto market. Reports says Bakkt’s custody unit is not part of the advanced talks. Donald Trump’s crypto footprint would grow with this deal, given the US president-elect’s recent launch of World Liberty Financial.

What Does Trump's Win Mean for Crypto?

Donald Trump and the Republican Party at large had a strong 2024 election, winning the presidency, Senate and House. This almost certainly guarantees crypto legislation will advance and become law sometime in the next two years.