{"id":127545,"date":"2024-11-19T06:26:59","date_gmt":"2024-11-18T23:26:59","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=127545"},"modified":"2024-11-19T06:26:59","modified_gmt":"2024-11-18T23:26:59","slug":"trump-media-in-reported-talks-to-buy-crypto-trading-platform-bakkt","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=127545","title":{"rendered":"Trump Media in reported talks to buy crypto trading platform Bakkt"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108024190\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>President-elect Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024.<\/p>\n<p>Kevin Wurm | Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/DJT\/\">Trump Media<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> is in &#8220;advanced talks&#8221; to buy the cryptocurrency trading firm <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/BKKT\/\">Bakkt<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, the Financial Times <a href=\"https:\/\/accounts.ft.com\/login?location=https%3A%2F%2Fwww.ft.com%2Fcontent%2Fd7f921d5-3668-4b6b-a98d-2681ad73610f\" target=\"_blank\" rel=\"noopener\">reported<\/a> Monday, citing two people with knowledge of the talks.<\/p>\n<p>The news sent shares of both companies soaring.<\/p>\n<p>Trump Media, which is majority owned by President-elect <a href=\"https:\/\/www.cnbc.com\/donald-trump\/\">Donald Trump<\/a>, shot up by double digits minutes after the Financial Times report was published.<\/p>\n<p>The company, which operates the Truth Social app and trades on the Nasdaq as DJT, closed more than 16% higher.<\/p>\n<p>Shares of Bakkt \u2014 which was created by <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ICE\/\">Intercontinental Exchange<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span>, the owner of the New York Stock Exchange \u2014 skyrocketed more than 162% amid repeated <a href=\"https:\/\/www.nyse.com\/trade-halt\" target=\"_blank\" rel=\"noopener\">trading halts<\/a> due to volatility.<\/p>\n<p>Kelly Loeffler, a previous CEO of Bakkt, is the co-chair of Trump&#8217;s inauguration committee.<\/p>\n<p>Loeffler, who is married to Intercontinental Exchange CEO Jeffrey Sprecher, left as Bakkt&#8217;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.<\/p>\n<p>Loeffler was defeated by Democratic Sen. Raphael Warnock in a runoff for a special election for her Senate seat.<\/p>\n<p>Trump Media has seen its market value rise and fall by billions of dollars in the runup to the 2024 presidential election, as retail investors bet on the Republican&#8217;s momentum and political prospects.<\/p>\n<p>While Trump Media has reported a <a href=\"https:\/\/www.cnbc.com\/2024\/11\/05\/trump-media-loses-19point2-million-in-third-quarter-surprise-election-day-filing-reveals.html\">$363 million net loss<\/a> on revenue of just $2.6 million so far this year, it boasts a market cap above $7 billion. The company said in its third-quarter <a href=\"https:\/\/s3.amazonaws.com\/sec.irpass.cc\/2660\/0001140361-24-045260.htm\" target=\"_blank\" rel=\"noopener\">earnings report<\/a> that it holds nearly $673 million in cash and cash equivalents.<\/p>\n<p>A Trump Media spokeswoman did not immediately respond to CNBC&#8217;s request for comment.<\/p>\n<p>The reported acquisition moves show Trump further developing his business interests in the cryptocurrency realm, even as he is set to enter the White House on Jan. 20, 2025.<\/p>\n<p>Just three weeks before the Nov. 5 presidential election, Trump hyped the launch of a token pegged to a new crypto venture dubbed <a href=\"https:\/\/www.cnbc.com\/2024\/10\/14\/trump-crypto-coin-world-liberty-election-harris.html\">World Liberty Financial<\/a>. As part of the <a href=\"https:\/\/www.cnbc.com\/2024\/10\/17\/trump-crypto-project-allows-ex-president-family-to-make-75percent-of-revenue.html\">deal with WLF,<\/a> Trump and his family are poised to rake in 75% of its net coin revenue while assuming no liability.<\/p>\n<p>Bakkt was founded in 2018 to offer tech services for crypto investors. The Alpharetta, Georgia-based company in its latest fiscal quarter reported total revenue of $328.4 million and an operating loss of $27.4 million, a 48% improvement from the prior year.<\/p>\n<p>In March, <a href=\"https:\/\/bakkt.com\/newsroom\/bakkt-notified-by-nyse-of-non-compliance-with-nyse-trading-share-price-listing-rule\" target=\"_blank\" rel=\"noopener\">Bakkt revealed<\/a> that the New York Stock Exchange had warned the company that it was at risk of being delisted because its common stock was trading at an average below the exchange&#8217;s $1 per share minimum for at least 30 consecutive trading days.<\/p>\n<p>In April, Bakkt carried out a reverse stock split at a 1-for-25 ratio.<\/p>\n<p>\u2014 <em>CNBC&#8217;s Dan Mangan contributed to this report.<\/em><\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Don\u2019t miss these insights from CNBC PRO<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/11\/18\/trump-media-in-reported-talks-to-buy-crypto-trading-platform-bakkt-sending-shares-soaring.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President-elect Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024. Kevin Wurm | Reuters Trump Media is in &#8220;advanced talks&#8221; to buy the cryptocurrency &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=127545\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-127545","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/127545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127545"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/127545\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}