On November 18th, Trump Media (NASDAQ:DJT) filed a Trademark application for TRUTHFI, a crypto service.
This report follows the news that Trump Media was in discussion to acquire Bakkt (NYSE:BKKT), a crypto trading platform controlled by ICE, the parent company of the New York Stock Exchange.
According to the filing, TruthFi is software for a digital wallet that can provide “cryptocurrency payment processing; credit and cash card payment processing services; card payment processing services; Financial asset management; financial custody services, namely, maintaining possession of financial assets for others for financial management purposes; trading in digital assets.”
By using the term Truth, it aligns with Trump Media’s main business, a Twitter clone – Truth Social.
President-elect Donald Trump has emerged as a top crypto advocate, contrasting the Biden regime’s anti-digital asset policy, which sought to diminish the industry and pushed many crypto entrepreneurs to exit the US markets.
Recently, Trump was said to have met with Coinbase CEO and founder Brian Armstrong to discuss the emerging industry.
Other reports claim Trump wants to make the US the epicenter of digital asset innovation and trading. In response to his support of crypto, digital asset markets have boomed, with Bitcoin hitting all-time highs and now near $100,000 in value.
