Weeks following the U.S. presidential elections, the crypto market is still buzzing with anticipation, especially after it went viral that the Trump Media & Technology Group is about to acquire crypto company Bakkt.

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

Trump Media & Technology Group is nearing an all-share purchase of the crypto trading platform, which was previously led by former US Sen. Kelly Loeffler of Georgia, a vocal Trump supporter, the Financial Times reported on Monday based on two people with knowledge of the talks.