Donald Trump’s social media venture has signaled potential plans to enter the cryptocurrency space with a recent trademark filing for “TruthFi.” The filing, submitted to the United States Patent and Trademark Office (USPTO) on November 18, outlines intentions to develop software that serves as a digital wallet, facilitate payment processing for both cryptocurrencies and traditional currency, and provide a platform for trading digital assets.
The trademark application also describes plans to offer financial analysis tools and custody services, which would involve managing the possession of financial assets on behalf of clients. Industry experts interpret this filing as an indication that Trump Media and Technology Group (TMTG) is gearing up to launch a cryptocurrency platform. Despite these developments, details regarding TMTG’s actual progress in these initiatives remain elusive, as the company has primarily focused on running its social media platform, Truth Social.
The USPTO has indicated a lengthy application review process, estimating that trademark registrations can take anywhere from 12 to 18 months, and the current applications are under examination. As of now, there are no confirmed timelines for when any associated services might be launched.
In further developments, reports indicate that TMTG is in advanced discussions concerning an all-share acquisition of cryptocurrency exchange Bakkt. If finalized, this would mark another significant move by Trump-affiliated businesses seeking to strengthen their foothold in the digital currency market. Additionally, the Trump family has introduced a decentralized finance platform and has sought to leverage Trump’s image for a variety of non-fungible token collections.
The cryptocurrency market has reacted positively since Trump’s electoral victory, with Bitcoin ’s price soaring past $98,000, approaching the notable milestone of $100,000. This surge follows a series of pro-crypto commitments made during Trump’s campaign, including promises to ease regulations surrounding the industry.
