Bakkt stock made further gains Tuesday as investors cheered the prospect of a takeover by Trump Media, which owns Truth Social.

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.

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.

Bakkt, which warned nine months ago that it may not be able to continue operating due to inadequate funds, is reportedly in advanced talks to be acquired by Trump Media and Technology Group.

Trump Media & Technology, the parent company of Truth Social, is reportedly in talks to buy crypto trading firm Bakkt.

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.

Trump Media & Technology Group, which operates Trump's social media company Truth Social, is in talks to buy crypto trading firm Bakkt, the Financial Times reported. Shares of Bakkt soared after the report on Monday and were up another 14.8% in premarket trading on Tuesday, CNBC reported . Bakkt and Trump Media declined to comment on the talks.