In line with final minute developments, US President-elect Donald Trump’s firm Trump Media is contemplating making a cryptocurrency fee service.
Donald J. Trump’s media firm seems to be entering into the crypto house. Earlier this week, Trump Media & Know-how Group (TMTG) filed a trademark for a service known as TruthFi, which is described as a platform for crypto funds, monetary custody, and digital asset buying and selling.
The trademark submitting gives little element about TruthFi’s operational plans or improvement timeline, leaving a lot to hypothesis. Nonetheless, it does reveal TMTG’s intention to broaden past Reality Social, a social media platform that has struggled to achieve important traction regardless of Trump’s private involvement.
Such functions usually point out real intent, mentioned Josh Gerben, a trademark legal professional primarily based in Washington. “More often than not, if a consumer goes to file, one thing is happening,” he says, including that corporations usually file emblems with plans to maneuver ahead in a couple of years.
To launch a crypto fee service like TruthFi, Trump Media would doubtless want to amass extra experience or belongings. This week, hypothesis emerged that TMTG was in talks to amass crypto buying and selling platform Bakkt, sending Bakkt’s inventory worth hovering.
Whereas Bakkt is struggling financially, its established infrastructure may present a strong basis for TMTG to enter the crypto market. Whereas neither Trump Media nor Bakkt has instantly commented on the rumors, Bakkt did difficulty a press release saying it was not addressing “market hypothesis.”
*This isn’t funding recommendation.
