The current US President wants to become the owner of the cryptocurrency exchange.< /p>
According to the Financial Times, the media company Trump Media and Technology Group, as Volodya of Social Media Truth Social, is negotiating to acquire the cryptocurrency exchange Bakkt through a share exchange.
Bakkt shares grew by more than 160% like shares Trump Media (+16.7%).
Despite market capitalization of $7 billion, Trump Media has not yet reached profitability. In the third quarter, it earned $19 million in profits, earning $1 million. As of June 30, the company had nearly $673 million on its books.
200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000“The only thing that Trump Media is good at is selling overvalued shares. “Now they plan to use the accumulated cash to add to the operating business, which potentially generates income and profits,” said University of Florida finance professor Jay Ritter.
CEO Tuttle Capital Management Matthew Tuttle added that the crypto market is positive but responds to potential pleasure , although the cryptoprostir has already been renewed.
Trump Media, Bakkt and Intercontinental Exchange did not officially comment on the situation.
Trump is already in control of the crypto platform and lending to World Liberty Financial.
Prepared by: Nina Petrovich