Trump Media Files Trademark for TruthFi Platform

Trump Media & Technology Group has filed a trademark application for 'TruthFi,' a proposed cryptocurrency payment platform, signaling potential expansion beyond its social media platform, Truth Social. This move comes amid reports of Trump Media's interest in acquiring the crypto trading platform Bakkt, leading to a significant rise in Bakkt's stock. The trademark application suggests plans for crypto payments, digital asset trading, and financial custody services. The initiative aligns with President-elect Donald Trump's pro-crypto stance, which has already resulted in Bitcoin hitting new all-time highs post-election. Trump Media, with a small workforce, may need to partner with or acquire an established firm to pursue this large-scale crypto venture. Trump's potential regulatory appointments further suggest a favorable environment for the crypto industry, with his administration expected to adopt a less stringent regulatory approach.