Donald Trump’s social media company, Trump Media and Technology Group (TMTG) has filed a trademark application for “TruthFi,” hinting at plans to enter the cryptocurrency space.
The Nov. 18 filing with the U.S. Patent and Trademark Office (USPTO) includes intentions to offer digital wallets, crypto payment processing, and digital asset trading services.
The filing also mentions providing financial data, market analysis, and custody services for managing financial assets. This suggests that TMTG may be working on a platform that could facilitate cryptocurrency transactions and investment services.
Trademark expert Josh Gerben shared his analysis, noting that the filing signals Trump Media’s interest in building a crypto platform. However, it’s unclear how far along the company is with its plans. So far, TMTG has focused on its social media app, Truth Social.
TMTG’s ambitions in crypto could be further supported by a potential deal with Bakkt, a crypto exchange, for an all-share acquisition on Nov. 18. If finalized, this would mark another move by Trump-backed companies into the cryptocurrency sector.
Trump’s political stance has also been favorable toward cryptocurrency. He has promised to ease regulations on digital assets and has made moves to accumulate Bitcoin as part of his strategic financial plan.
The filing could take up to 18 months for approval, but it shows Trump Media’s serious interest in crypto, and the crypto market is already seeing significant growth.
Also Read: Trump Consider Pro-Crypto Teresa Goody Guillén for SEC Chair
