The partnership aims to integrate Bakkt’s trading platform with DTR’s stablecoin-based payments infrastructure
The company is also delaying the filing of its annual report.
Cryptocurrency continues to gain prominence under the administration of incoming US President Donald Trump as a crypto trading firm may soon become part of the companies owned by the billionaire president. Reports disclosed Trump Media eyes to acquire the Bakkt crypto company to gain a foothold in the digital asset industry. Related Reading: Crypto Milestone: […]
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.
The current CEO Michael will step down “to pursue other opportunities.”
Bakkt has posted back-to-back losses and a plummeting share price since listing in October 2021 and the NYSE is threatening to pull it.
This week’s headlines include Franklin Templeton’s entry into the Ether ETF race, Ripple’s new custody deal, Bakkt’s sale of securities and CoinShares’ Q4 earnings.
The institutional digital asset trading platform unveiled in 2018 amid huge fanfare has just disclosed it “might not be able to continue as a going concern.”