Trump to buy Bakkt, a crypto exchange

[Ambatman]

This is a + for the crypto community (global recognition) but I don't think it'll bring us to the path of freedom and decentralization, who knows, anything can happen but for me, i'll stick to what I'm using now.

Unless Bakkt going to respect user's privacy with less strict identity verification or less harsh with source of deposited coin, nobody will have more freedom. And as reminder, Bakkt is a centralized exchange.

Even if it states it would
Ain't gonna trust something like that from a Government owned business.

Why does he want to buy Bakkt and not Coinbase?

How can he buy Coinbase?
They have no reason to sell nor does he have the capacity.
Besides Bakkt has already issued a going concern warning
So definitely they willing to sell, it's better getting something cheap than starting anew.

Why is it going to become another FTX? The owner will be the President of the United States, with all power to do whatever he wants. I think it can be quite the opposite, I'm afraid it will become very successful and set a monopoly on the market. First of all, Trump is trusted by half of the US population, which means they'll trust his businesses and services. Trump is an influencer too, everything he does and posts, is seen by millions or billions of people around the world. He can easily promote his crypto exchange and attract millions of customers around the world. Also, if this exchange fails and becomes another FTX, it will create a serious problem for Trump, won't it? He has all the power and money, I think he won't make that happen.

That was how Sam FTX CEO was trusted by quite a lot of individuals.
It would be another FTX because Trump isn't going to make Bitcoin it's only reserve and would definitely dabble in manipulations of funds.

It will create a serious problem for Trump? He has scammed alot and gotten away with it
Why should this be different.

Good Thing the US isn't the world and Bitcoin is borderless.

[legiteum]

Trump is a President but the USA isn't like Russia where Putin can do everything he wants.

Trump is a convicted criminal, and the first president in US history that had even been indicted for crimes, let alone convicted by a jury.

On the campaign trail, Trump regularly said that he would be a "dictator" in order to get things done.

I think it's actually pretty fair to say, therefore, that Trump's voters sure to want Trump to be a dictator like Putin.

Trump could align the entire crypto market to himself personally and his voters wouldn't care--especially since many of them would be jumping aboard his investments and making money themselves from this takeover.

[...]
Good Thing the US isn't the world and Bitcoin is borderless.

Bad news is that the US has most of the world's Bitcoin investors, and the US foreign policy can lean on countries all over the world to do what they want. Just look at how the US was able to levee sanctions on Russia after the Ukraine invasion: the US has a lot of power to project worldwide.

But again, most of the investor money for Bitcoin is from US consumers. If Bitcoin lost that, the price would absolutely crater even from a pure supply and demand standpoint--but the panic would multiply the effect times ten.

[Catenaccio]

Trump is a convicted criminal, and the first president in US history that had even been indicted for crimes, let alone convicted by a jury.

If he is a criminal, he will always be a criminal.

On the campaign trail, Trump regularly said that he would be a "dictator" in order to get things done.

The fact tells me that the opposite party is the dictator. They publicly said many times to put Trump in bullseye, lock him, eliminate him, threat of democracy, and they actually weaponized law enforcement to put him in jails, prevent him to run for a President election. They failed, failed big in 2024 election and the voice of Americans confirm it.

I think it's actually pretty fair to say, therefore, that Trump's voters sure to want Trump to be a dictator like Putin.

Want it or not, he won't become a dictator like Putin because the America Constitution does not allow it to happen.

[legiteum]

Trump is a convicted criminal, and the first president in US history that had even been indicted for crimes, let alone convicted by a jury.

If he is a criminal, he will always be a criminal.

He absolutely is a convicted criminal, and will always be a criminal...

On the campaign trail, Trump regularly said that he would be a "dictator" in order to get things done.

The fact tells me that the opposite party is the dictator. They publicly said many times to put Trump in bullseye, lock him, eliminate him, threat of democracy, and they actually weaponized law enforcement to put him in jails, prevent him to run for a President election. They failed, failed big in 2024 election and the voice of Americans confirm it.

I guess if you trust Trump with your money, there's nothing I can do to change your mind. Good luck.

I think it's actually pretty fair to say, therefore, that Trump's voters sure to want Trump to be a dictator like Putin.

Want it or not, he won't become a dictator like Putin because the America Constitution does not allow it to happen.

Under the same Constitution that convicted Trump by a jury of his peers? Clearly the Constitution means nothing to you nor Trump, because you are willing to disregard it if it means defending Trump.

And you are not unlike most of Trump's voters.

Put it another way, if Trump banned Bitcoin and made his own currency the official one in the US, would you a) start hating Trump for now on; or b) sell your Bitcoin and buy Trump's coin with the money, and keep supporting Trump?

I suspect 95% of Trump's voters would pick B.

[ABCbits]

This is going to become another FTX.

Why is it going to become another FTX? The owner will be the President of the United States, with all power to do whatever he wants. I think it can be quite the opposite, I'm afraid it will become very successful and set a monopoly on the market. First of all, Trump is trusted by half of the US population, which means they'll trust his businesses and services. Trump is an influencer too, everything he does and posts, is seen by millions or billions of people around the world. He can easily promote his crypto exchange and attract millions of customers around the world. Also, if this exchange fails and becomes another FTX, it will create a serious problem for Trump, won't it? He has all the power and money, I think he won't make that happen.

Maybe saying it'll become another FTX is an exaggeration. But you definitely should search on google about list of failed Trump's business. And recently, he and his family release World Liberty Financial where it's disclaimer say they'll take 75% profit while take no liability.

This is a + for the crypto community (global recognition) but I don't think it'll bring us to the path of freedom and decentralization, who knows, anything can happen but for me, i'll stick to what I'm using now.

Unless Bakkt going to respect user's privacy with less strict identity verification or less harsh with source of deposited coin, nobody will have more freedom. And as reminder, Bakkt is a centralized exchange.

Even if it states it would
Ain't gonna trust something like that from a Government owned business.

I agree, as long as the claim isn't backed by laws.

[examplens]

Maybe saying it'll become another FTX is an exaggeration. But you definitely should search on google about list of failed Trump's business. And recently, he and his family release World Liberty Financial where it's disclaimer say they'll take 75% profit while take no liability.

I am wondering what the SEC's stance would be on the US President taking over a crypto exchange privately. Also, knowing Trump's history of risky business, how would the SEC enforce laws against him at all?

[passwordnow]

Everyone is waiting for him to seat on the White House and while waiting, there are a lot of news like this that comes out. So, until it happens then all of these things are just rumors and it doesn't matter whether he'll buy Bakkt as his another acquired asset. Doesn't have the US laws like this that a sitting president in power isn't allowed to do transactions like this because there could be a conflict of interest? or these media are just fueling his name so that they can extract most out of him while the market is also running in bullsh? it doesn't connect for now and everyone has to wait him until he sits.

[mv1986]

Maybe saying it'll become another FTX is an exaggeration. But you definitely should search on google about list of failed Trump's business. And recently, he and his family release World Liberty Financial where it's disclaimer say they'll take 75% profit while take no liability.

I am wondering what the SEC's stance would be on the US President taking over a crypto exchange privately. Also, knowing Trump's history of risky business, how would the SEC enforce laws against him at all?

That's indeed an interesting point you raised here. Since he now has the chance to implement so many people that would support his agenda, I don't know how independent a regulatory body like the SEX would even be? Could be quite a big thing for Trump.

[NotATether]

He's not the owner yet, so I won't comment on that.

Would I use his exchange? Nope because of the KYC and stuff. I don't use any exchanges that do KYC, but I wouldn't use or not use it because of Trump. I have nothing against him.
It's actually good for the country that he won, but we will know more in a year or two. Don't judge before he gets his chance.

I'm all about freedom, so if he wants to own an exchange, why shouldn't he? As long as it's his private money buying it I wish him good luck.

Does this exchange even allow US users to trade on the platform?

[ThemePen]

Potential acquisition of Bakkt by Trump Media is big deal for crypto industry. With Trump in charge of major US crypto exchange his administration will likely support crypto friendly policies. Trump team plans to create pro crypto council Bitcoin reserve and undo strict regulations against crypto companies. This new things will likely favor companies and cryptocurrencies with strong ties to  Trump administration. However it is important to remember that business logic may not matter in this new landscape. What is crucial is understanding how your investments align with Trump regime interests.

[legiteum]

Potential acquisition of Bakkt by Trump Media is big deal for crypto industry. With Trump in charge of major US crypto exchange his administration will likely support crypto friendly policies. Trump team plans to create pro crypto council Bitcoin reserve and undo strict regulations against crypto companies. This new things will likely favor companies and cryptocurrencies with strong ties to  Trump administration. However it is important to remember that business logic may not matter in this new landscape. What is crucial is understanding how your investments align with Trump regime interests.

Exactly: why would Trump care about Bitcoin when he would make so much more money pumping his own coin?

This might be a very good thing for Bitcoin (in the short run at least), but this could also be a lethal blow to Bitcoin.

[Apocollapse]

You need to adjust your thinking for this new paradigm: the actual business logic doesn't matter. Don't say, "but Bakkt isn't as good as Coinbase" or "WLFI is a pure scam" because it doesn't matter: anything with the full backing of the US government, no matter how crappy, is going to prevail, and even decimate it's competitors.

It's true, but I would see Bakkt is a threat for Coinbase, not necessary will beat Bybit or Binance.

Coinbase is mainly an American exchange that serve for US citizen, even though Coinbase has been exist since 2012, but they can't beat Binance who created since 2017.

After all, any exchanges I mentioned above aren't safe because they ask KYC and your KYC can be leaked or used by someone else. It's better to avoid everything I mentioned above and choose to use exchange that listed on kycnot.me

[legiteum]

You need to adjust your thinking for this new paradigm: the actual business logic doesn't matter. Don't say, "but Bakkt isn't as good as Coinbase" or "WLFI is a pure scam" because it doesn't matter: anything with the full backing of the US government, no matter how crappy, is going to prevail, and even decimate it's competitors.

It's true, but I would see Bakkt is a threat for Coinbase, not necessary will beat Bybit or Binance.

Coinbase is mainly an American exchange that serve for US citizen, even though Coinbase has been exist since 2012, but they can't beat Binance who created since 2017.

After all, any exchanges I mentioned above aren't safe because they ask KYC and your KYC can be leaked or used by someone else. It's better to avoid everything I mentioned above and choose to use exchange that listed on kycnot.me

If Binance lost all of their American customers because Trump made them illegal here, that would be a pretty huge blow for them, I think .

I get what you might want to do, but if something was made illegal in the USA, I doubt very many people would risk doing it--especially if there was a perfectly legal alternative.

[jodidonnelly]

Well, did he buy it or did they never happen? 

[qurbanshah02]

Well, did he buy it or did they never happen? 

What do you mean I don't understand. If you want to buy trump then at that time its price was good low then it would be much better to buy it and it went even lower which was even better and lower but at that time Trump has improve because of Bitcoin and is going up. If you buy Trump you won't take so much because it can also go down.If you invest in it according to the market of Bitcoin you will get good perform and will be able to get more profit from it.