Trump Media & Technology Group (DJT) stock experienced a pre-market plunge of 5.43% on Tuesday amidst rumors of a potential acquisition and a CEO meeting with the President-elect.
According to media reports, DJT is in advanced talks to acquire Bakkt Holdings (BKKT), a cryptocurrency trading platform owned by Intercontinental Exchange (ICE). The potential all-share deal could deepen Trump's move into the cryptocurrency market, following his promotion of a new crypto venture with longtime business partners.
Additionally, reports suggest that Coinbase Global CEO Brian Armstrong is expected to meet privately with President-elect Donald Trump on Monday to discuss personnel appointments for his administration. This meeting follows Trump's campaign promise to appoint a council to formulate regulatory guidance on bitcoin and cryptocurrencies.
Comments