Trump Media Explores Crypto Ventures With New Trademark Filing
Trump Media and Technology Group (TMTG) has filed for a trademark for "TruthFi," indicating possible plans to enter the crypto market.
The filing, submitted to the U.S. Patent and Trademark Office (USPTO) on Nov. 18, outlines intentions to develop a range of digital services, including a digital wallet, crypto payment processing, and a platform for trading digital assets.
The trademark application also encompasses financial services such as market analysis data and the custody of financial assets for management purposes.
This move suggests TMTG is positioning itself to tap into the growing demand for cryptocurrency services. Trademark attorney Josh Gerben commented on the filing, noting that it signals a clear interest in establishing a crypto platform.
As the USPTO reviews applications from April 17 to May 1, it is important to note that trademark registration can take 12 to 18 months, with potential delays due to procedural complexities. Trump Media, in which Donald Trump holds a 53% stake, has primarily focused on its social media platform, Truth Social, to date.
In parallel developments, TMTG is reportedly in discussions regarding an all-share acquisition of the crypto exchange Bakkt, according to a Nov. 18 Financial Times report. This potential acquisition would further integrate Trump-backed businesses into the cryptocurrency sector.
Additionally, the Trump family has ventured into decentralized finance (DeFi) with the launch of World Liberty Financial in September, although early token sales did not meet expectations.
The Trump administration has expressed support for the crypto industry, making pledges to reduce regulatory barriers.