Donald Trump's media firm is preparing to acquire the crypto platform Bakkt, drawing attention to his pro-crypto position.
Details of the Planned Deal
Trump's media firm, Trump Media & Technology Group Corp. (TMTG), plans to acquire the crypto platform Bakkt, according to Bloomberg reports. Following this, the stocks of both parties showed a sharp spike. The purchase will be an all-share acquisition, and Bakkt's shares showed a 162% surge after these discussions.
Trump's Actions Post Election
Donald Trump has been actively supporting cryptocurrencies by appointing digital asset-friendly members to leading positions. He also initiated the formation of the Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy.
Other Trump Crypto Projects
Post-election initiatives include launching several NFT collections and ventures into DEFI, such as World Liberty Financial, which recently launched a new token.
Trump's firm's activity in the crypto space affirms his commitment to developing the crypto industry in the USA.
