Trump Media Group to Potentially Buy Bakkt: A Strategic Move into Crypto Trading

Trump Media Group Set to Acquire Bakkt in All-Stock Deal: A Closer Look

Trump Media Group – Trump Media and Technology Group (TMTG), the parent company of Truth Social, is in advanced talks to acquire Bakkt, a crypto trading platform with a market cap of $150 million. The deal, expected to be an all-stock transaction, would allow TMTG to expand its media empire into the cryptocurrency space.

Bakkt’s Struggles and TMTG’s Ambitions

Bakkt, once focused on helping customers use Bitcoin for everyday purchases, has pivoted to crypto custody and trading services. However, it has struggled with profitability and financial stability, even reporting a lack of funds to cover 12 months of operations earlier this year. Despite these challenges, Bakkt’s shares jumped 160% following news of the potential acquisition.

TMTG, valued at $6 billion, has limited revenue but strong backing from retail investors, mainly due to Trump’s popularity. The acquisition would enable TMTG to leverage Bakkt’s crypto infrastructure as part of its broader media and tech strategy.

Impact on Bakkt and the Crypto Space

If the acquisition goes through, Bakkt’s crypto custody business would be excluded from the deal, but its trading and exchange services could be integrated into TMTG’s platform. With the crypto market booming, the acquisition could strengthen TMTG’s position in digital assets.

Trump’s Growing Crypto Influence

This potential acquisition follows Trump’s promotion of World Liberty Financial, a DeFi platform linked to his family. Additionally, Trump is planning to meet Coinbase CEO Brian Armstrong, signaling his growing interest in cryptocurrency.