Trump's media enters the cryptocurrency market, registering the trademark 'TruthFi' which includes digital wallets and encryption payment services.

It seems that Trump Media and Technology Group (TMTG) is preparing to enter the cryptocurrency market. The new trademark 'TruthFi' submitted by TMTG to the US Patent and Trademark Office (USPTO) on 11/18 suggests that TMTG may plan to launch digital wallets, cryptocurrency payment services and digital asset trading platforms in the future.

TruthFi trademark application disclosure, encryption payment and asset trading platform now show

According to the document, 'TruthFi' is described as computer software primarily used in digital Wallets, Cryptocurrency and law coin payments processing, as well as digital asset trading platforms. The application also mentions market analysis data services for financial research, as well as financial custody services for managing financial assets held by others.

TMTG submits trademark documents

Renowned US trademark lawyer Josh Gerben also shared the application on Twitter, indicating that the document shows TMTG's future plans to provide digital Wallet, Cryptocurrency payment services, and asset trading platform services. However, it is currently unclear how advanced these plans are. TMTG is mainly responsible for operating Trump's social platform 'Truth Social', and this application seems to represent business expansion, but further observation is still needed in reality.

Source: Josh Gerben, trademark applications still take time and need to wait for 12 to 18 months.

USPTO indicates that the applications submitted between 4/17 and 5/1 are currently under review, which means that the approval of the trademark 'TruthFi' for TMTG may take at least one to one and a half years to complete. The trademark application process may experience some latency due to its complexity. TMTG has not yet responded to this matter.

TMTG expands the encryption map and negotiates acquisition with Bakkt exchange

In addition to trademark applications, TMTG has recently been reported to be in talks to acquire Cryptocurrency exchange Bakkt. According to foreign media reports, TMTG is discussing the acquisition of Bakkt with its parent company, Intercontinental Exchange (ICE), using an all-stock transaction. In fact, the Trump family's encryption plan has some clues. They launched their own Decentralized Finance platform, World Liberty Financial, on September 16 this year, but the subsequent token issuance did not meet expectations, only raising 3.4% of the target funds.

Trump expressed his support, driving the market and causing BTC prices to soar.

Since Trump previously expressed support for Cryptocurrency and won the presidential election, it has had a huge impact on the market. He also stated that he would dismiss Gary Gensler, the SEC chairman who has repeatedly suppressed the development of the encryption industry, and establish a clear regulatory direction, as well as plans to establish a strategic reserve of BTC in the United States. He has also authorized the use of his image in different Non-fungible Token series. Under his influence, the current price of BTC has exceeded 98K and is approaching the $100,000 mark.

TMTG trademark application and acquisition Bakkt, still need to watch its changes

But whether it is the trademark application of TMTG, a Sichuan media company, or the acquisition rumors of Bakkt, it can indeed be seen that Trump is determined to enter the encryption market. However, it may take some time from the approval of the trademark to the verification of the acquisition transaction rumors before we can know. Everyone should still be cautious and avoid being influenced by market speculation and falling into risks.

(Trump takes office with New Hope: White House creates new position on encryption policy, Brian Brooks as SEC chairman?) )

This article Trump's media enters the Cryptocurrency market, registered trademark 'TruthFi' includes digital wallet and encryption payment services first appeared in Chain News ABMedia.