Trump Media & Technology Group in Discussions to Acquire Bakkt

According to the Financial Times, Donald Trump's Trump Media & Technology Group (TMTG) is in advanced talks to acquire the digital asset marketplace Bakkt in an all-stock deal.

TMTG, which owns the Truth Social platform, aims to diversify its offerings beyond social media and recently launched World Liberty Financial, a crypto venture.

Throughout his campaign, Trump has positioned himself as a supporter of cryptocurrency, promising to make America the "world capital for crypto and Bitcoin."

On Monday, Bakkt's shares surged 162%, while Trump Media & Technology Group Corp (NASDAQ: DJT) closed up over 16%.