---
title: "Trump Media Enters Advanced Negotiations To Acquire ICE Crypto Platform Bakkt"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-11-19T07:20:42+00:00"
modified: "2024-11-19T07:20:42+00:00"
date: 2024-11-19
canonical: "https://stockmark.it/trump-media-enters-advanced-negotiations-to-acquire-ice-crypto-platform-bakkt/"
category: "Crypto Currency"
categories: ["Crypto Currency", "Financial"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-11-19T072010.796.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Trump Media Enters Advanced Negotiations To Acquire ICE Crypto Platform Bakkt

**Published:** November 19, 2024
**Author:** Stockmark.IT Website
**Categories:** Crypto Currency, Financial
**Featured image:** ![Trump Tower Chicago, reflecting city skyline. "TRUMP" is prominently displayed. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2024-11-19T072010.796.jpg?fit=1200%2C800&quality=89&ssl=1)

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Donald Trump’s social media enterprise is nearing a significant acquisition as Trump Media and Technology Group (TMTG) engages in advanced discussions to purchase cryptocurrency trading platform Bakkt from Intercontinental Exchange (ICE).

The proposed transaction, structured as an all-share deal, comes as TMTG seeks to diversify beyond its Truth Social platform. The exact valuation remains undisclosed, though Bakkt’s market capitalisation stood at approximately £150 million on Monday. The news catalysed a remarkable 162% surge in Bakkt’s shares, whilst TMTG experienced a 16.7% uptick.

TMTG, despite modest revenues of £2.6 million this year, commands a substantial £6 billion equity valuation, providing significant leverage for acquisition strategies. The company’s stock has emerged as one of the most actively traded US securities since Trump’s electoral triumph, attracting considerable retail investor interest.

The potential acquisition aligns with Trump’s expanding cryptocurrency interests, following his recent promotion of World Liberty Financial, a crypto venture promising substantial fees for the former president. Cryptocurrency markets have responded positively to Trump’s election victory, with Bitcoin recording a 30% increase amid speculation of favourable industry legislation.

Bakkt, which has faced profitability challenges, was established under ICE’s umbrella, with the NYSE owner maintaining a 55% economic stake. The platform’s initial chief executive, Kelly Loeffler, a Republican former Georgia senator during Trump’s first presidency, maintains strong connections to both organisations as co-chair of Trump’s upcoming inauguration committee.

The deal notably excludes Bakkt’s struggling crypto custody business, which reported operating losses of £27,000 from £328,000 in revenue during the third quarter. The platform’s future focus centres on developing institutional trading capabilities, marking a strategic pivot from its original business model.

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**Original URL:** https://stockmark.it/trump-media-enters-advanced-negotiations-to-acquire-ice-crypto-platform-bakkt/
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