Crypto

Trump Eyes Crypto with Talks and Coinbase Meeting

Kenneth Metral

Nov 19, 2024 — 1 min read

Image Credit: Donald J. Trump/Library of Congress

President-elect Donald Trump is deepening his engagement with the cryptocurrency sector, following his campaign's emphasis on digital assets. Reports indicate that Trump Media & Technology Group is in advanced discussions to acquire Bakkt, a cryptocurrency trading and brokerage platform. This potential acquisition has positively impacted both companies' stock prices; Trump Media's stock rose nearly 17%, while Bakkt's shares surged over 162% following the news.

In addition to these developments, Trump met with Coinbase CEO Brian Armstrong, marking their first meeting since the election. While specific details of their discussion remain undisclosed, it aligns with Trump's plans to establish a presidential advisory council on Bitcoin and cryptocurrency, aiming to develop regulatory guidelines for the industry.

These actions reflect Trump's ongoing commitment to integrating cryptocurrency into his policy agenda, signaling a potential shift toward a more crypto-friendly regulatory environment in the United States.

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