Trump Media is near an all-stock deal to buy crypto platform Bakkt, report says

Fortune11-19

President-elect Donald Trump’s media company is in advanced talks to buy the crypto trading platform Bakkt in an all-stock deal, according to the Financial Times. The move represents the Trump Media ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrump Media is near an all-stock deal to buy crypto platform Bakkt, report says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-19 06:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/trump-media-near-stock-deal-224847515.html><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>President-elect Donald Trump’s media company is in advanced talks to buy the crypto trading platform Bakkt in an all-stock deal, according to the Financial Times. \nThe move represents the Trump Media ...</p>\n\n<a href=\"https://finance.yahoo.com/news/trump-media-near-stock-deal-224847515.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://finance.yahoo.com/news/trump-media-near-stock-deal-224847515.html","article_id":"2484932069","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Fj9Gk594uCN2n3fnNmRuyQ--~B/aD0xMzY2O3c9MjA0ODthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/fortune_175/03e704b4bba2e470470b43c0c9b1e0a5"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484932069","pubTimestamp":1731970127,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"President-elect Donald Trump’s media company is in advanced talks to buy the crypto trading platform Bakkt in an all-stock deal, according to the Financial Times.The move represents the Trump Media and Technology Group’s  first venture to branch out from Truth Social, the upstart social media platform.Shares of both TMTG and Bakkt jumped after the FT report. Bakkt closed up 163%, TMTG stock was up 16% on the day.ICE declined to comment. TMTG and Bakkt did not immediately respond to a request for comment.Bakkt was founded in 2018, by Intercontinental Exchange , the company that also owns the New York Stock Exchange. ICE now currently owns about 55% of Bakkt, which has market cap of around $150 million dollars.This would not be Trump's first venture in crypto industry, launching World Liberty Financial in September. World Liberty Financial plans to operate as a decentralized finance platform, which allows users to borrow and lend crypto without a financial institution mediating the trans","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0154245756.USD":"BNP PARIBAS US MID CAP \"C\" (USD) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU0154245673.USD":"BNP PARIBAS US MID CAP \"C\" (USD) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4112":"金融交易所和数据","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","ICE":"洲际交易所","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H"},"translate_title":"报告称，特朗普媒体即将达成收购加密货币平台Bakkt的全股票交易","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ICE":0.9},"content_text":"President-elect Donald Trump’s media company is in advanced talks to buy the crypto trading platform Bakkt in an all-stock deal, according to the Financial Times. \nThe move represents the Trump Media and Technology Group’s (TMTG) first venture to branch out from Truth Social, the upstart social media platform. \nShares of both TMTG and Bakkt jumped after the FT report. Bakkt closed up 163%, TMTG stock was up 16% on the day.\nICE declined to comment. TMTG and Bakkt did not immediately respond to a request for comment.\nBakkt was founded in 2018, by Intercontinental Exchange (ICE), the company that also owns the New York Stock Exchange. ICE now currently owns about 55% of Bakkt, which has market cap of around $150 million dollars. \nBy comparison, TMTG is now valued at about $7 billion as shares soared after Trump won the presidential election. An all-stock deal would all the company to use its valuable shares to expand.\nBut both companies have seen their operations struggle this year. In February, Bakkt issued a \"going concern\" warning, meaning it is unsure it will have enough money to keep operating. In March, Bakkt disclosed it had been notified by the NYSE that it was at risk of being delisted from the stock exchange because its stock had traded below an average of $1 for 30 days. \nMeanwhile, TMTG has yet to turn a profit, losing hundreds of millions of dollars, since it went public in March. Despite its poor performance, TMTG remains one of the most heavily traded stocks on the market, an indication that it is a meme stock that trades independent of is business fundamentals.\nBakkt's former CEO was Kelly Loeffler, who stepped down when she was appointed as Georgia's U.S. senator in December 2019. Loeffler now chairs Trump's inaugural committee. Her husband Jeffrey Sprecher is the CEO of ICE.\nLoeffler and Sprecher have long campaigned to get cryptocurrencies into institutional investors. Since the launch of Bakkt (which is a play on \"asset-backed security) the company has tried to get cryptocurrencies into retirement plans like 401(k)s and IRA accounts. Bakkt launched with much fanfare, including an extensive feature in Fortune in which both Loeffler and Sprecher sat for interviews. The company had secured major investments from Microsoft, Starbucks, BCG, and a host of blue chip investment firms like Fortress Investment Group and Susquehanna International Group. \nBut as the crypto industry matured, other, more established players begin to offer similar services, making it harder for Bakkt to carve out a space in the market. In July Bloomberg reported the company was exploring being broken up or sold. Now it appears Bakkt has found a buyer in TMTG. \nThis would not be Trump's first venture in crypto industry, launching World Liberty Financial in September. World Liberty Financial plans to operate as a decentralized finance platform, which allows users to borrow and lend crypto without a financial institution mediating the transaction. It also has plans to issue a token of its own. The Trump family will receive 75% of the tokens issued, with the remaining 25% going to their business partners. \nTMTG's expansion into another holding could have major implications for the president-elect's net worth. Trump's 53% ownership stake in TMTG is worth about $3.7 billion based on Monday's stock price.\nThis story was originally featured on Fortune.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484932069"}