President Trump’s Media Company Reportedly Targets Bold All-Share Takeover of Crypto Exchange

President Trump’s Trump Media and Technology Group (TMTG) is reportedly in advanced talks to acquire Bakkt, a cryptocurrency trading venue owned by Intercontinental Exchange (ICE), in a potential all-share takeover, according to a report by the FT. With TMTG’s equity valuation at approximately $6 billion, the company is leveraging its market position to expand beyond its social media platform, Truth Social. Bakkt, which has struggled to achieve profitability since its launch, has a current market capitalization of just over $150 million. Following news of the negotiations, Bakkt’s shares surged by 162%, while TMTG’s stock rose by about 16.7%. As Bakkt pivots towards building a trading platform for institutional investors, the outcome of these discussions remains closely watched by market participants.