Just dropping some background information to help people make sense of things in the nomination world of businessman and President-Elect Donald Trump.

<a href="https://www.usatoday.com/story/money/2024/11/18/trump-media-buy-crypto-firm-bakkt/76412095007/" target="_blank" rel="noopener">FINANCIAL TIMES</a> – […] Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, the Financial Times reported on Monday, citing two people with knowledge of the talks.

Shares of Bakkt, backed by NYSE-owner Intercontinental Exchange, skyrocketed more than 160% and were halted multiple times due to volatility. Trump Media shares ended the day up 16.7%.

[…] Trump Media and Bakkt ‒ whose former CEO, Kelly Loeffler, is now co-chair of Trump’s inauguration committee and married to Intercontinental Exchange CEO Jeffrey Sprecher ‒ did not immediately respond to requests for comment from USA TODAY. Intercontinental Exchange declined to comment.

A deal would help consolidate Trump’s involvement with an industry that he championed in the run-up to the U.S. presidential election. The president-elect has also launched a new crypto venture, World Liberty Financial.

“The only thing (Trump Media has) got going for them is the incoming president’s name. But the crypto crowd has backed the president quite strongly, and now they’re expecting a payoff,” said Jim Angel, a finance professor at Georgetown University in Washington, D.C. (<a href="https://www.usatoday.com/story/money/2024/11/18/trump-media-buy-crypto-firm-bakkt/76412095007/" target="_blank" rel="noopener">read more</a>)

As with everything in life, outside family, it helps to stay emotionally detached and clear-eyed about money motives.

Kelly Loeffler transferred ownership of Baakt. The crypto exchange Baakt is currently owned by the Intercontinental Exchange (ICE), owned by Loffler’s husband.&nbsp; If the report above is accurate, President Trump is in merger negotiations with Kelly Loeffler’s husband, Jeffrey Sprecher.

President Trump is a supporter of cryptocurrency.

Just dropping some background information to help people make sense of things in the nomination world of businessman and President-Elect Donald Trump. FINANCIAL TIMES – […] Trump Media and Technology Group, which operates Truth Social, is close to an all-stock acquisition of Bakkt, the Financial Times reported on Monday, citing two people with knowledge of […]{ai:summary}Trump Media and Technology Group is reportedly in talks for an all-stock acquisition of Bakkt, leading to a surge in Bakkt's shares. The deal would strengthen Trump's ties to the crypto industry, which he has supported during his presidency. Kelly Loeffler, former CEO of Bakkt, is co-chair of Trump's inauguration committee, linking the negotiations to her husband, Jeffrey Sprecher, CEO of Intercontinental Exchange. The crypto community is optimistic about potential benefits from Trump's involvement. #politics