Donald Trump's Media and Technology Group (TMTG) is reportedly in advanced talks to acquire Bakkt, a crypto trading platform owned by Intercontinental Exchange (ICE). TMTG, which operates Truth Social, plans to use its stock as payment for the acquisition. This move would expand Trump's presence in the cryptocurrency market. The deal excludes Bakkt's crypto custody business, which reported losses in the third quarter. Despite having smaller reach than competitors, Truth Social is a significant asset for Trump, representing over half of his net worth. The crypto market has seen positive movement since Trump's election victory, with Bitcoin rising over 30% on speculation of favorable legislation under his administration.



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