TMTG Nears Crypto Platform Bakkt Acquisition

President-elect Donald Trump's media company, Trump Media & Technology Group (TMTG), is reportedly in advanced discussions to acquire the cryptocurrency trading platform Bakkt. This acquisition aligns with Trump's campaign promises to support the cryptocurrency industry, aiming to transform the US into the 'crypto capital of the planet.' Bakkt, owned by Intercontinental Exchange and formerly led by Trump ally Kelly Loeffler, has seen its stock soar over 162% following reports of the potential acquisition. Trump Media, which operates Truth Social, has experienced significant stock value increases, underscoring market optimism about Trump's pro-crypto stance. Analysts speculate that this expansion will bolster Trump's influence in the crypto industry and potentially ease regulatory pressures.