Trump Media and Technology Group Announces Intent to Acquire Crypto Exchange Bakkt
Srategic Acquisition Marks Expansion into the Cryptocurrency Market
Trump Media and Technology Group (TMTG), the parent company of Truth Social, is pleased to announce that it is in advanced discussions to acquire Bakkt, a leading cryptocurrency trading platform owned by Intercontinental Exchange (ICE). This potential all-stock deal represents a significant step in TMTG’s mission to broaden its technological and financial services offerings.
Bakkt, established by ICE—which also owns major derivatives exchanges and the New York Stock Exchange (NYSE)—was initially created to help consumers make everyday purchases, such as buying Starbucks coffee with Bitcoin (BTC). Over time, Bakkt has evolved to focus on crypto custody and trading services, becoming a prominent player in the digital asset space.
Key Highlights of the Proposed Acquisition:
- Strategic Market Entry: The acquisition signals TMTG’s ambitious entry into the cryptocurrency market, aligning with the company’s vision to integrate innovative financial technologies into its platform ecosystem.
- Focused Services Expansion: Bakkt’s crypto custody business will not be included in the acquisition, allowing TMTG to concentrate on enhancing trading and transactional services for its users.
- Enhanced Financial Solutions: This move deepens TMTG’s involvement in the cryptocurrency sector, following its recent promotion of World Liberty Financial, and underscores its commitment to providing diverse financial solutions.
As of Monday, Bakkt’s market capitalization stood at just over $150 million. TMTG, with an equity valuation of $6 billion fueled by robust retail investor interest following President Trump’s re-election, views this acquisition as a strategic investment in the future of digital assets and financial technology.
About Trump Media and Technology Group
Trump Media and Technology Group is a media and technology company that operates Truth Social, a social media platform dedicated to promoting free speech and open dialogue. TMTG is committed to building a comprehensive ecosystem that connects people through innovative technology, media, and financial services.
About Bakkt
Bakkt is a digital asset marketplace that enables consumers and institutions to buy, sell, store, and spend cryptocurrencies and other digital assets. Founded by Intercontinental Exchange, Bakkt aims to unlock the value of digital assets through secure and user-friendly solutions.
Forward-Looking Statements
This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those projected. TMTG undertakes no obligation to update any forward-looking statements
