FINANCIAL TIMES – […] Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, the Financial Times reported on Monday, citing two people with knowledge of the talks.
Shares of Bakkt, backed by NYSE-owner Intercontinental Exchange, skyrocketed more than 160% and were halted multiple times due to volatility. Trump Media shares ended the day up 16.7%.
[…] Trump Media and Bakkt ‒ whose former CEO, Kelly Loeffler, is now co-chair of Trump’s inauguration committee and married to Intercontinental Exchange CEO Jeffrey Sprecher ‒ did not immediately respond to requests for comment from USA TODAY. Intercontinental Exchange declined to comment.
A deal would help consolidate Trump’s involvement with an industry that he championed in the run-up to the U.S. presidential election. The president-elect has also launched a new crypto venture, World Liberty Financial.
“The only thing (Trump Media has) got going for them is the incoming president’s name. But the crypto crowd has backed the president quite strongly, and now they’re expecting a payoff,” said Jim Angel, a finance professor at Georgetown University in Washington, D.C. (read more)
Thanks for the update. I’m a very happy shareholder based on your suggestion in April!
Your original recommendation of DEFTF (for US investors) was brilliant. I'm guessing you saw this?
Trump Social Media Firm Truth Social in Acquisition Negotiations with Crypto Firm Baakt
https://www.usatoday.com/story/money/2024/11/18/trump-media-buy-crypto-firm-bakkt/76412095007/
FINANCIAL TIMES – […] Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, the Financial Times reported on Monday, citing two people with knowledge of the talks.
Shares of Bakkt, backed by NYSE-owner Intercontinental Exchange, skyrocketed more than 160% and were halted multiple times due to volatility. Trump Media shares ended the day up 16.7%.
[…] Trump Media and Bakkt ‒ whose former CEO, Kelly Loeffler, is now co-chair of Trump’s inauguration committee and married to Intercontinental Exchange CEO Jeffrey Sprecher ‒ did not immediately respond to requests for comment from USA TODAY. Intercontinental Exchange declined to comment.
A deal would help consolidate Trump’s involvement with an industry that he championed in the run-up to the U.S. presidential election. The president-elect has also launched a new crypto venture, World Liberty Financial.
“The only thing (Trump Media has) got going for them is the incoming president’s name. But the crypto crowd has backed the president quite strongly, and now they’re expecting a payoff,” said Jim Angel, a finance professor at Georgetown University in Washington, D.C. (read more)
###