News on Crypto Currency: Trump Media Eyes Bakkt Acquisition

News on Crypto Currency: Trump Seeks To Expand Crypto Influence

In recent cryptocurrency news, President-elect Donald Trump continues to make waves in the crypto space, with Trump Media & Technology (DJT) reportedly in advanced talks to acquire crypto trading platform Bakkt. This acquisition marks a significant step in Trump’s expanding influence over the cryptocurrency market. As Bitcoin prices soar and the digital asset space garners global attention, Trump's focus on cryptocurrency is becoming a central theme in his political and business endeavors.

In other crypto news today, Trump is also set to meet with Coinbase CEO Brian Armstrong, signaling a potential shift in U.S. crypto regulations. This meeting, part of Trump’s ongoing commitment to digital assets, aligns with his vow to create a crypto advisory council, reshaping the future of the cryptocurrency market.

Crypto Currency News Today

President-elect Donald Trump continues to strengthen his involvement in the cryptocurrency space, with Trump Media & Technology (DJT) reportedly nearing an acquisition deal with Bakkt, a prominent crypto trading firm. According to sources, the Truth Social parent company is in "advanced talks" to purchase Bakkt, a company that went public in 2021. While the financial terms of the deal remain unclear, Bakkt’s market capitalization was valued at $401.1 million as of Monday. 

Following the news, Bakkt's stock soared more than 162%, reflecting a strong market response. This acquisition could signal Trump’s deeper commitment to the digital assets market, further solidifying his position within the evolving crypto landscape.

Trump’s Crypto Campaign and Digital Assets Vows

Trump’s connection with cryptocurrency has evolved dramatically since he launched his campaign. Once a skeptic of digital assets, Trump has become a vocal advocate, making several crypto-related campaign promises. These include plans to create a bitcoin reserve and even attempt to nationalize bitcoin. 

In addition, Trump has vowed to overhaul the U.S. Securities and Exchange Commission (SEC), with plans to remove current Chair Gary Gensler. His 2024 election bid saw cryptocurrency as a key issue, which resonated with his voter base, especially in a market that is becoming increasingly intertwined with traditional finance.

Coinbase CEO to Meet with Trump

In another significant development, Trump is scheduled to meet with Coinbase CEO Brian Armstrong on Monday, marking their first meeting since the election. This meeting is expected to focus on the future of cryptocurrency regulation in the U.S. Trump has previously mentioned the creation of a bitcoin and crypto advisory council, which would help shape regulatory guidelines for the industry. 

Armstrong, a key figure in the crypto world, has voiced support for Hester Peirce as the next SEC commissioner, a role that could influence the trajectory of crypto regulations in the coming years.

Trump Media Stock on the Rise Amid Crypto Developments

Trump Media’s stock saw a notable spike of nearly 17% following the Bakkt acquisition news, reinforcing investor confidence in the company’s strategic direction. Despite some volatility in its stock price, the company has experienced impressive growth, with a year-to-date increase of 87%. 

This surge in Trump Media stock is indicative of the market’s optimism about Trump’s evolving role in the cryptocurrency market, signaling potential future gains as he continues to position himself as a major player in the industry.