Trump Media & Technology Group (TMTG) is in advanced talks to acquire #Bakkt , a digital asset platform, in an all-share deal. Bakkt, launched in 2018 by Intercontinental Exchange (ICE), has struggled with profitability, and ICE still holds a 55% stake. As of last Friday, Bakkt’s market capitalization was $155 million. Following news of the potential acquisition, Bakkt’s shares saw a significant increase.
#TMTG , which operates #TruthSocial , has had strong market activity, with a valuation of $6 billion despite modest revenues of $2.6 million this year. The acquisition would represent a significant expansion into the cryptocurrency space for the company. Donald #Trump has previously teased a new crypto project, World Liberty Financial,fueling speculation about his interest in the sector. The deal could also signal a shift in cryptocurrency markets, as Bitcoin has surged amid expectations of pro-crypto policies under Trump's leadership.

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Major shakeup as the US Securities and Exchange Commission steps in to close down the auditor of TruthSocial, Donald Trump's social media venture, DJT, citing 'massive fraud' allegations.

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