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

Trump Media & Technology stock slipped early Tuesday after jumping in the previous session on a report that the company is in talks to buy crypto trading platform Bakkt. A deal would expand President-elect Donald Trump’s crypto interests—he launched his own cryptocurrency venture in September—a platform called World Liberty Financial.

Trump Media and Technology Group, which operates Truth Social, is nearing an all-stock deal to purchase Bakkt, a struggling crypto trading venue owned by Intercontinental Exchange.

The move would be the first major acquisition on behalf of Trump Media, which already owns the small social media platform Truth Social.

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

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.

Donald Trump's social media company is in advanced talks to buy crypto trading firm Bakkt, the Financial Times reported, citing two people with knowledge of the talks.Trump Media and Technology Group,