Trump Media in Advanced Talks to Acquire Listed Crypto Firm Bakkt
Trump Media and Technology Group is in advanced talks to acquire Bakkt, a listed cryptocurrency company. This deal reinforces earlier reports from June that Bakkt was up for sale. The Financial Times has revealed this, citing insider sources. However, the current owner of Bakkt is not specified in the provided search results.
Bakkt's first CEO was Kelly Loeffler, who later became a U.S. Senator representing the State of Georgia during Trump's first presidency. Loeffler is also the co-head of Trump's inauguration committee. Trump Media and Technology Group, which owns Truth Social, is led by President elect Donald Trump, who owns 53% of the company. The acquisition talks are in an advanced stage, suggesting a significant move in the crypto market.
If the deal goes through, it will mark a notable entry of Trump Media into the cryptocurrency sphere. Bakkt, with its listed status and former high-profile CEO, could provide a strong foothold for Trump Media in the crypto world.
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