💳 Trump's social media platform applies for the TruthFi trademark, cryptocurrency payment services are about to debut?
Trump's company TMTG has recently made significant moves! They are not only operating their social media platform Truth Social, but they have also applied for a new trademark "TruthFi" for this social platform to create digital currency payment services. Previously, Trump had stated during his campaign that he supports the popularization and application of cryptocurrency, and it seems he is not just talking.
According to a recent report from The New York Times, TMTG (Trump Media & Technology Group) plans to launch cryptocurrency and digital wallet services after its new trademark "TruthFi" is approved. The platform is described as "downloadable computer software," ostensibly usable as a digital wallet, but it may actually be aiming to engage in cryptocurrency payments, asset management, and digital asset trading.
However, it is worth noting that the Truth Social social media platform faced rumors of financial difficulties in September, as reported by The Washington Post. In August of this year, the company announced a loss of over $16 million in the second quarter of 2024, with revenues of less than $1 million.
As a major shareholder, Trump was previously unable to sell stocks due to a lock-up agreement, but after the lock-up period ended, he stated on social media that he would not sell any stocks and called for relevant authorities to investigate those spreading rumors about financial difficulties.
Speaking of Trump and cryptocurrency, there is also a project called World Liberty Financial (WLF), whose WLFI tokens sold only 1.35 billion tokens, accounting for 2% of their initial target, indicating poor sales performance. Even if Trump wins the election in November, only $5.74 million worth of WLFI tokens were sold.
This situation may concern investors, as Trump winning the election would be good news for the entire cryptocurrency market, leading to significant increases in mainstream cryptocurrencies like Bitcoin and ETH. However, the performance of the WLFI token has been somewhat underwhelming.
💬 What are your thoughts on Trump's media's TruthFi trademark and digital currency payment services? Leave your opinions and predictions in the comments section!
