Trump’s Media Group Considers Buying Crypto Trading Venture Bakkt

Donald Trump's social media company is looking to buy a crypto trading venue.

Background

• A recent report pointed out that Trump Media and Technology Group is in advanced talks to buy Bakkt
• The aforementioned crypto trading firm is backed by Intercontinental Exchange — the owner of the New York Stock Exchange

Why should you pay attention?

• On the heels of the news, shares of both companies started soaring
• Trump Media closed the day’s trade 16% higher at $32.81
• Meanwhile, Bakkt went on to register a gigantic green candle, signifying a whopping 162% hike on the daily timeframe

Who said what?

• As of press time, neither party had officially announced the takeover
• Two anonymous sources familiar with the internal talks going on hinted at the potential buy

Zooming out

• Trading was halted multiple times owing to the volatility influx
  

In other related news

• Melania Trump rolled out a digital photography series recently
• She affirmed, "I am pleased to share my journey — through photographs — with fans and collectors"
• The collection portrays her life on the campaign trail, at office, and at home
• Called ‘On the Move,’ the collection resonates with the former and incoming First Lady’s fast-moving life
• The limited edition series consists of 16 digital images captured by Belgian photographer Regine Mahaux
• The collection costs $195
• It is being sold on the First Lady’s website
• The collection will also be minted on the Solana blockchain