Donald Trump’s media venture, the Trump Media and Technology Group (TMTG), is reportedly in advanced negotiations to acquire Bakkt, a crypto trading platform owned by the Intercontinental Exchange (ICE). Trump Sets Sights On Crypto Expansion According to sources familiar with the ongoing discussions, TMTG is considering an all-share purchase of Bakkt, although the exact valuation remains unclear. As of Monday, Bakkt’s market capitalization was just over $150 million. Related Reading: The Year Of Solana: 2024 Sees Global Crypto Love Surge Nearly 40% TMTG, which Trump has pledged to maintain a 53% stake in, has gained considerable attention in the stock market since the former president’s election victory on November 5. Despite reporting only $2.6 million in revenues this year, TMTG boasts an equity valuation of $6 billion, providing it with a robust currency for potential acquisitions. Following the announcement of the acquisition talks, Bakkt’s shares jumped 86%, reflecting investors’ optimism about the potential acquisition. TMTG’s share price also rose significantly by around 14%. TMTG Explores All-Share Purchase Of Bakkt Founded by ICE, Bakkt was initially designed to facilitate a range of crypto services, including a custody business aimed at holding the industry’s leading digital assets, Bitcoin (BTC) and Ethereum (ETH), for clients. However, this part of the crypto business has struggled, with reported operating losses of $27,000 against revenues of only $328,000 for the third quarter of the year. Consequently, it is expected that TMTG’s acquisition will not include Bakkt’s custody operations, which are likely to be phased out. Related Reading: MicroStrategy Makes Record $4.6 Billion Bitcoin Purchase, Largest Yet In terms of user engagement, Trump’s Truth Social remains relatively small, averaging around 646,000 daily visits compared to the 155 million daily visits on Elon Musk’s X platform. Still, the president-elect’s investment in TMTG is significant, accounting for more than half of his estimated $5.7 billion net worth, according to Bloomberg. Featured image from LA Times, chart from TradingView.com
As the U.S. political landscape shifts, Coinbase CEO Brian Armstrong positions himself as a pivotal figure in the evolving dialogue surrounding cryptocurrency regulation. His engagement with former President Donald Trump
Elon Loves Doge could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Elon Loves Doge (ELODOGE), a new Solana memecoin that was launched today, is set to explode over 14,000% in price in the coming days. This is because ELODOGE is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Elon Loves Doge can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early
Before US Election Day, Brian Armstrong said Coinbase was “prepared to work” with either a Kamala Harris or Donald Trump administration
Pro-XRP lawyer Jeremy Hogan has provided insights into the potential timeline for the approval of an XRP exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). In a recent post on X (formerly Twitter), Hogan stated that the average timeframe for ETF approval ranges from six to twelve months. Based on this estimate, The post XRP ETF: Pro-XRP Lawyer Provides Timeline For US SEC Approval appeared first on CoinGape .
The launch of USDQ and EURQ marks a significant step for Quantoz, as it positions to capitalize on the growing demand for stablecoins. New Stablecoins in Circulation Netherlands-based technology firm, Quantoz Payments announced on Monday that it will begin issuing USDQ and EURQ, two stablecoins designed to be MiCA compliant. The Markets in Crypto-Assets Regulation
DMM Crypto’s recent decision to terminate the Seamoon Protocol underscores the volatile landscape of the cryptocurrency sector in Japan. The discontinuation highlights the ongoing challenges within the crypto market, forcing
Donald Trump to meet Coinbase CEO Brian Armstrong in a discussion that might include SEC leadership and plans for the crypto advisory council. The post Trump set to hold private meeting with Coinbase CEO appeared first on Crypto Briefing .
Donald Trump’s social media company, Trump Media and Technology Group, is in advanced discussions to buy Bakkt, a cryptocurrency-trading platform that is part of Intercontinental Exchange. The would-be all-stock deal fits TMTG’s plans to expand from its Truth Social platform. Shares of Bakkt jumped nearly 66% on the news before a halt was implemented due The post Donald Trump’s Media Firm in Talks to Acquire Crypto Platform Bakkt appeared first on CoinGape .
More on BIT Mining Seeking Alpha’s Quant Rating on BIT Mining Financial information for BIT Mining