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
