Trump’s Media Company Files Crypto Payments Trademark

U.S. President-elect Donald Trump’s media company, Truth Social, appears to be entering the crypto industry. The platform’s parent company, Trump Media and Technology Group (TMTG) filed a trademark application last week for a crypto payment processing platform called TruthFi.

The application does not reveal many of the specifics but includes several applications for the platform, such as digital wallets, card payment processing services, asset management, custody services, and digital asset trading.

“The fact that the application was filed indicates there is a significant discussion within the company about offering cryptocurrency-related products and services. The filing was specifically made to protect the idea of expanding the company’s Truth brand to the cryptocurrency world,” said Josh Gerben, a trademark attorney based in Washington, DC.

Trump’s Increasing Crypto Involvement

During his presidential campaign, Trump courted the crypto industry, making many promises to the crypto community. Recent developments suggest that the president-elect is serious about his support for crypto.

The trademark application is only the latest in a series of moves by Trump and his associates into the crypto industry.

Last week, Financial Times reported that TMGT, is in talks to acquire Bakkt, a struggling crypto trading company. The news sent Bakkt’s stock skyrocketing.

Before then, Trump promoted World Liberty Financial, a cryptocurrency exchange controlled by his sons, Donald Trump Jr. and Eric Trump.