According to informed sources, Trump Media Technology (DJT.US), under elected president Trump, is negotiating to acquire the digital asset platform Bakkt (BKKT.US).

Sources say the negotiations have entered the "late" stage, after which Bakkt's stock price more than doubled. The report states that Trump Media is about to acquire it entirely through stock. As of Monday's close, Bakkt's market cap was $0.155 billion.

Bakkt has been spun off from the parent company of the New York Stock Exchange, the intercontinental exchange, and is currently still majority-owned by that exchange.

For months, Bakkt has been exploring possible sales. The intercontinental exchange, which owns some of the largest futures markets and the New York Stock Exchange, launched Bakkt with great fanfare in 2018.

As of Monday's close, Bakkt's stock price rose 162.46% to $29.71. In October 2021, as the prices of cryptos neared historic highs, this stock traded at over $1,000. Less than three years later, the exchange disclosed that it might not be able to continue operation, increasing the likelihood of being delisted from the nyse.

Bakkt's founding CEO Kelly Loeffler's husband, Jeffrey Sprecher, is the founder and CEO of the intercontinental exchange and chairman of the New York Stock Exchange.

Loeffler served as a U.S. Senator from Georgia for one year and is currently co-chairing the Trump inauguration committee with Steve Witkoff.

Trump owns more than 50% of Trump Media & Technology, which operates the social media website Truth Social.