Shares of both companies soared on the 18th local time on the news that "Trump Media," a major shareholder of U.S. President-elect Donald Trump, will take over the virtual asset exchange "Bakkt."
Trump Media shares closed at $32.78, up 16.7% from the previous session on the New York Stock Exchange.
Trump Media is the parent company of Truth Social, a social network service (SNS) founded by former President Trump, who owns about 57% of the company.
The stock price of Backt soared 162.5% on the report of the Financial Times (FT) that Trump Media is seeking to acquire Backt.
The report came amid growing expectations for deregulation related to virtual currency as former President Donald Trump, who self-appointed as the "virtual currency president," won the U.S. presidential election.
Bitcoin, a leading virtual currency, has been below the $70,000 mark just before the presidential election, but has risen to the $90,000 mark since former President Trump's election.
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