A social media agency owned by President-elect Donald Trump seems to be keen on wading into the crypto funds enterprise.
Final week, Trump Media & Expertise Group Corp., which operates the Twitter-inspired platform Reality Social, filed a trademark utility with the U.S. Patent and Trademark Workplace (USPTO) for the identify “TRUTHFI.”
The applying, which was accepted by the USPTO however hasn’t been assigned to an examiner but, lists a number of companies for TRUTHFI, together with crypto pockets software program, crypto cost processing, digital asset buying and selling, and monetary asset administration, amongst others.
The Monetary Instances, citing “two folks with data of the talks,” reported final week that Trump Media & Expertise Group was within the superior stage of discussions relating to an acquisition of Bakkt, a crypto buying and selling and custody agency backed by Intercontinental Alternate Inc.
Bakkt’s crypto custody enterprise, which has struggled to achieve a foothold, was reportedly omitted of the talks and is prone to be wound down.
Trump Media & Expertise Group’s reported curiosity in doubtlessly buying a crypto agency comes simply months after the US President-elect launched the decentralized finance (DeFi) undertaking World Liberty Monetary.
After expressing skepticism about Bitcoin (BTC) and crypto throughout his earlier presidential time period, Trump spent the yr main as much as October’s election promising to guard and develop the digital asset sector.
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