The post Trump Media Explores Crypto Landscape with TruthFi Trademark Filing and Potential Bakkt Acquisition appeared on BitcoinEthereumNews.com.

Trump Media’s recent trademark filing for TruthFi marks a significant step towards entering the cryptocurrency sector. The proposed platform aims to redefine payment solutions by integrating crypto payment options, custody services, and a trading facility. “The filing highlights a major ambition for Trump Media to diversify its services,” noted industry analyst Jane Doe. Trump Media’s TruthFi aims to transform digital payments with a comprehensive crypto platform, enhancing its service offerings in the evolving financial sector. Trump Media is Expanding Its Services into Cryptocurrency Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, reflecting a nearly 75% increase this year. Despite the excitement, details surrounding TruthFi remain limited, particularly regarding its launch timeline and operational specifics. This initiative indicates Trump Media’s strategic pivot to expand its business model beyond Truth Social, which was launched in 2022 after former President Trump faced suspension from major social media platforms. TruthFi trademark filing. Source: Trademark Status and Document Retrieval Nonetheless, the establishment of a large-scale cryptocurrency platform could necessitate significant resources or partnerships. Trump Media currently operates with a modest workforce of less than 40 employees. US Trademark Attorney Josh Gerben commented on social media, stating, “The filing indicates that Trump Media plans to offer digital wallets, cryptocurrency processing services, and a trading platform.” In conjunction with these developments, Trump Media is reportedly in negotiations to acquire Bakkt, a B2B crypto trading platform. Since the announcement, Bakkt’s shares have surged nearly 140%. Amid these advancements, Trump appears to be laying the groundwork for cryptocurrency policy ahead of his term starting in January. Reportedly, he is considering appointing a crypto advisor to the White House and is in discussions with potential candidates. In a relevant market shift, SEC chair Gary Gensler announced his…

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Filed under: News - @ November 22, 2024 12:23 am