Trump Expands Crypto Reach With Acquisition Talks, Coinbase Meeting · Investor's Business Daily
President-elect Donald Trump continues to embrace cryptocurrency after making digital assets a key part of his campaign. Trump Media & Technology (Nasdaq: DJT) is reportedly closing in on a deal to buy crypto trading firm Bakkt, according to reports. Meanwhile, Trump on Monday is set to meet with Coinbase CEO Brian Armstrong.
Trump Media stock leaped nearly 17% Monday following a Financial Times report that the Truth Social parent is in “advanced talks” to acquire crypto trading and brokerage platform Bakkt (Nasdaq: BKKT). Financial terms and valuation details were unclear, according to two unnamed sources cited in the article.
Bakkt, which went public in October 2021, generated $53.1 million in revenue last year, FactSet data shows, and had a market capitalization of $401.1 million as of Monday’s close. Trump Media group has a $7.1 billion valuation at Monday’s close.
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