All articles tagged with #bakkt
Bitcoin reached a two-month high near $120,000 amid a broader crypto rally, with Bakkt Holdings soaring 150% this week after restructuring and strategic moves, signaling a positive shift in the digital asset infrastructure sector.
Trump Media & Technology Group is reportedly in advanced talks to acquire cryptocurrency firm Bakkt in an all-share deal, though the valuation remains unclear. Bakkt, previously led by Trump supporter Kelly Loeffler, saw its shares surge over 162% on news of the potential acquisition. The deal would mark Trump's latest venture into cryptocurrency, aligning with his pro-crypto stance during his campaign. Both Bakkt and TMTG have faced financial challenges, with Bakkt struggling to turn profits and TMTG posting a $19 million net loss recently.
Trump Media & Technology Group's stock surged nearly 17% after reports emerged that the company is in talks to acquire cryptocurrency trading platform Bakkt. This potential acquisition could benefit President-elect Donald Trump, who holds a 53% stake in Trump Media. Bakkt, owned by Intercontinental Exchange, saw its shares more than double before being halted for volatility. The financial terms of the deal have not been disclosed.
Trump Media is reportedly in advanced talks to acquire the cryptocurrency trading platform Bakkt, causing shares of both companies to surge. Trump Media, owned by President-elect Donald Trump, saw its stock rise over 16%, while Bakkt's shares skyrocketed by more than 162% amid trading halts. This move marks Trump's further expansion into the cryptocurrency sector as he prepares to enter the White House. Bakkt, founded in 2018, has faced financial challenges, including a risk of delisting from the NYSE.
Trump Media is reportedly in advanced talks to acquire the cryptocurrency trading platform Bakkt, leading to a significant surge in the shares of both companies. Bakkt, created by Intercontinental Exchange, has faced financial challenges, including a risk of delisting from the New York Stock Exchange. The potential acquisition aligns with Trump's growing business interests in the cryptocurrency sector as he prepares for the 2024 presidential election.
Donald Trump's social media company, Trump Media and Technology Group (TMTG), is in advanced talks to acquire Bakkt, a cryptocurrency trading platform owned by Intercontinental Exchange. This move aims to expand TMTG's reach beyond social media, despite its current low revenue. The acquisition talks have led to a significant rise in Bakkt's share price, while TMTG's shares also saw an increase. The deal would mark a deeper involvement in the cryptocurrency market for Trump, who has been promoting a new crypto venture, World Liberty Financial. Bakkt has struggled with profitability and plans to focus on building a trading platform for institutional investors.
Bakkt, the NYSE-backed crypto marketplace, has delisted Cardano, Solana, and Polygon after the SEC labeled them "crypto asset securities" in lawsuits against Binance and Coinbase. Bakkt will remove support for the tokens until there is additional regulatory clarity. Robinhood and eToro have also halted trading services for the same three assets. Cardano is down nearly 30% since the SEC's lawsuit against Binance was announced, Solana is down more than 28%, and Polygon is down more than 33%.