Trump's Crypto Ambitions Grow Ahead of 2025 White House Bid
Former President Donald Trump continues to expand his cryptocurrency ventures while preparing for a potential 2025 White House return. Financial sources report that Trump Media & Technology Group (TMTG) is in advanced negotiations to acquire Bakkt, a prominent cryptocurrency exchange platform.
Key Deal Details:
- Full Acquisition: TMTG plans complete ownership of Bakkt
- Trump's Stake: 53% retention promised post-acquisition
Market Reaction: Both companies' stocks surged immediately after rumors broke
- TMTG (NASDAQ: DJT) closed 16% higher
- Bakkt saw 163% gains despite multiple trading halts
Bakkt's Rocky Road: From Launch to Near-Delisting
Company Background:
- Founded: 2018 by Intercontinental Exchange (ICE)
- IPO: October 2021 via SPAC merger
- Services: Crypto trading technology solutions
Financial Challenges:
Latest Quarter:
- Revenue: $328.4M
- Operating Loss: $27.4M (48% reduction YoY)
Past Struggles:
- Faced potential NYSE delisting
- Conducted 1:25 reverse stock split (April 2024)
Leadership Connections:
- Former CEO Kelly Loeffler chaired Trump's inaugural committee
- Loeffler's husband: ICE CEO Jeffrey Sprecher
- Note: Crypto custody division (not part of deal) remains operational
Trump's Expanding Crypto Ecosystem
Recent Developments:
- World Liberty Financial (launched September 2024)
Campaign promises:
- Bitcoin treasury reserves
- Mining-friendly regulations
- SEC leadership changes
Market Sentiment vs. Reality:
- TMTG Valuation: $7B+ despite $260M revenue and $363M net loss
User Base:
- Truth Social: 646K daily visits (SimilarWeb)
- X Platform: 155M daily visits (comparison)
👉 How political figures influence crypto markets
FAQ: Trump's Crypto Moves Explained
Q: Why would Trump acquire Bakkt?
A: This expands his crypto infrastructure ahead of potential pro-crypto policies if elected.
Q: Is Bakkt financially stable?
A: While improving losses, profitability remains elusive - this appears more strategic than financial.
Q: How might this affect crypto markets?
A: Increased institutional interest could boost mainstream adoption, though valuation concerns persist.
👉 Essential guide to crypto exchange acquisitions
Q: Does Trump own other crypto assets?
A: Reports suggest holdings in Bitcoin and NFTs, plus the new World Liberty Financial project.
Strategic Implications
This potential acquisition signals:
- Growing political-corporate crypto alliances
- Anticipation of favorable 2025 regulations
- Vertical integration for Trump-affiliated platforms
Market analysts caution: While enthusiasm drives short-term gains, long-term success depends on actual user adoption and regulatory frameworks.