"Trump Media and Technology Group (TMTG), the parent company of Truth Social, is in advanced discussions to acquire the crypto trading platform Bakkt, according to a report from the Financial Times."
"The deal deepens Trump's involvement in crypto after promoting World Liberty Financial, a DeFi platform tied to the Trump family."
"Despite minimal revenue, TMTG boasts a $6 billion equity valuation fueled by retail investor interest following Trump's re-election."
"Bakkt's crypto custody business will not be part of the acquisition, as it has struggled and will be excluded from the deal."
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