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Trump Media & Technology Group (TMTG) to launch cryptocurrency trading platform? Clues revealed in "TruthFi" trademark application
After Trump was elected as the President of the United States, his social media company seems to be ready to enter the Crypto Assets field. According to the application filed with the United States Patent and Trademark Office (USPTO) on November 18th, the Trump Media & Technology Group (TMTG) has applied for a trademark for the new service 'TruthFi', revealing plans to launch a service that covers Crypto Assets transactions and payments.
The trademark application shows that TruthFi will involve providing digital Wallet software, Crypto Assets and fiat currency payment processing services, as well as a digital asset trading platform. In addition, the document also mentions financial market analysis and data research services, as well as providing financial asset custody and management services for others.
Trademark experts speculate: TMTG intends to enter the Cryptocurrency trading market
Trademark lawyer Josh Gerben pointed out earlier today (22) that TMTG may be preparing to enter the cryptocurrency market. He wrote:
This document shows that Trump Media intends to launch a digital Wallet, Cryptocurrency payment processing service, and digital asset trading platform.
Trump Media已提交了一份新的商標申請:
"TruthFI"
The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer:
Digital wallets
Cryptocurrency payment processing services
A digital asset trading platform#Trump #TruthSocial pic.twitter.com/24J6J8xjuC
— Josh Gerben (@JoshGerben) November 21, 2024
However, it is currently unclear at which stage TMTG has progressed in implementing these cryptocurrency plans. So far, the company has mainly focused on operating the social platform 'Truth Social' owned by Trump.
Trademark applications usually take at least one year.
According to USPTO data, the current examination progress is only for applications between April 17 and May 1 this year, which means that the trademark application for TMTG may take up to a year and a half to complete, and may face many latency during the process.
Trump-related companies actively lay out Cryptocurrency
In fact, this is not the first time that Trump-related businesses have attempted to enter the cryptocurrency field. According to the Financial Times' report on November 18, TMTG is currently in negotiations with Bakkt, a cryptocurrency platform under the Intercontinental Exchange (ICE), considering acquiring it in full. If the deal goes through, it will be an important step for Trump's businesses to further expand their cryptocurrency territory.
In addition, on September 16th of this year, the Decentralized Finance project 'World Liberty Financial' related to the Trump family officially went online, but the subsequent Token sales performance was not as expected, only raising 3.4% of the target 300 million dollars.
Currently, the Trump Media Technology Group has not responded to the details of the trademark application, but "TruthFi" has aroused expectations for its future actions. Perhaps the Trump organization will bring more new developments to the encryption currency market.
The article 'Trump Media and Technology Group TMTG to launch cryptocurrency trading platform? Clues revealed in TruthFi trademark application' was first published on 'Blocklike'.