Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Starmer says UK to recognize Palestinian state if...
‘Critical’ closed-door congressional huddle focuses on growing antisemitism...
Trump’s CDC pick confirmed—but her pro-vaccine stance may...
Trump pick Emil Bove confirmed as federal judge...
From Gaza to Greenland, Macron breaks with Trump...
Schumer calls on FBI to conduct counterintelligence threat...
Biden ‘Politburo’ member Steve Ricchetti to appear before...
Trump looks to skip G20 summit in South...
Backlash against Sydney Sweeney ‘jeans/genes’ ad gets mocked...
Biden ‘Politburo’ member Steve Ricchetti appears before House...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring

by admin November 20, 2024
November 20, 2024
Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring

Trump Media is reportedly in “advanced talks” to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks.

The news sent shares of both companies soaring.

Trump Media, which is majority-owned by President-elect Donald Trump, shot up by double digits minutes after the FT report was published.

The company, which operates the Truth Social app and trades on the Nasdaq as DJT, closed more than 16% higher.

Shares of Bakkt — which was created by Intercontinental Exchange, the owner of the New York Stock Exchange — skyrocketed more than 162% amid repeated trading halts due to volatility.

Kelly Loeffler, a previous CEO of Bakkt, is the co-chair of Trump’s inauguration committee.

Loeffler, who is married to Intercontinental Exchange CEO Jeffrey Sprecher, left as Bakkt’s top executive in 2019 when Georgia Gov. Brian Kemp appointed her to the U.S. Senate seat vacated by Sen. Johnny Isakson, who resigned due to health reasons.

Loeffler was defeated by Democratic Sen. Raphael Warnock in a runoff for a special election for her Senate seat.

Trump Media has seen its market value rise and fall by billions of dollars in the run-up to the 2024 presidential election, as retail investors bet on the Republican’s momentum and political prospects.

While Trump Media has reported a $363 million net loss on revenues of just $2.6 million so far this year, it boasts a market cap above $7 billion.

A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment.

This post appeared first on NBC NEWS

previous post
Walmart hikes its outlook again as shoppers spend more outside the grocery aisles
next post
Dental supply stock surges on RFK’s anti-fluoride stance, activist involvement

You may also like

Women’s basketball league Unrivaled secures $28M in funding...

December 18, 2024

Boeing taps aerospace veteran Kelly Ortberg to replace...

August 1, 2024

Restaurants fight back against the FTC crackdown on...

August 27, 2024

Apple sues former Vision Pro employee for allegedly...

July 3, 2025

Nike pushes back Skims launch with Kim Kardashian...

June 19, 2025

Meta is finally bringing ads to WhatsApp

June 17, 2025

S&P 500 climbs for best day since early...

July 24, 2024

Procter & Gamble to cut 7,000 jobs as...

June 14, 2025

Amazon gets FAA approval for new delivery drone...

November 7, 2024

Target calls price hikes a ‘very last resort’...

May 22, 2025

Recent Posts

  • Starmer says UK to recognize Palestinian state if Israel doesn’t agree to ceasefire, Hamas must ‘disarm’
  • ‘Critical’ closed-door congressional huddle focuses on growing antisemitism in US, Mamdani’s rise
  • Trump’s CDC pick confirmed—but her pro-vaccine stance may clash with RFK Jr.’s agenda
  • Trump pick Emil Bove confirmed as federal judge after furious Democrat walkout, whistleblower complaints
  • From Gaza to Greenland, Macron breaks with Trump on global flashpoints

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (845)
    • Investing (2,651)
    • Politics (3,267)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.