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

The price of Trump Media, which owns the Trump-affiliated TruthSocial social media app and boasts a market capitalize of more than $7 billion, surged in the wake of the announcement. Trump Media stock jumped by more than 16%. Bakkt is owned by the same company that owns the New York Stock Exchange, and saw its stock soar by over 162%.

President-elect Trump's social media company is reportedly in advanced talks to purchase cryptocurrency exchange Bakkt as digital assets continue to soar.

Could an Alpharetta-based cryptocurrency company once led by former Georgia U.S. Sen. Kelly Loeffler soon be owned by President-elect Donald Trump?

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

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.

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.

Shares of Bakkt soared as high as 250% on Monday on news Trump's media firm may be closing in on an all-stock purchase of the crypto company.

President-elect Donald Trump’s Trump Media & Technology Group Corp. is in talks to buy the digital-asset marketplace Bakkt, according to people familiar with the discussions who asked not to be named sharing private information.