Earlier this year, Trump took the main stage of the Bitcoin conference in Nashville and pledged to transform the U.S. into the crypto capital of the world. His list of goals as pr

President-elect Trump's social media company is reportedly in advanced talks to purchase cryptocurrency exchange Bakkt as digital assets continue to soar.

Bakkt stock surged Monday before making further gains in premarket trading Tuesday as investors cheered the prospect of a Trump Media takeover.

The BAKKT memecoin soared 37,000% on Solana after rumors of Trump Media’s Bakkt takeover, highlighting speculative trading and extreme volatility akin to other Trump-themed tokens.

President-elect Donald Trump’s Trump Media & Technology Group Corp. is in talks to buy the digital-asset marketplace Bakkt, according to people familiar with the discussions who asked not to be named sharing private information.

The move would be the first major acquisition on behalf of Trump Media, which already owns the small social media platform Truth Social.

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.

Shares in crypto exchange Bakkt closed up over 162% after it was reported that Donald Trump’s media empire was in advanced talks to buy the firm.

Trump Media and Technology Group, which operates Truth Social, is nearing an all-stock deal to purchase Bakkt, a struggling crypto trading venue owned by Intercontinental Exchange.