Trump Media Files Trademark for Crypto Payment Service ‘TruthFi’

Donald Trump’s media and technology company is making waves in the cryptocurrency world with its latest move. The Trump Media & Technology Group (TMGT) has filed a trademark application for TruthFi, a cutting-edge crypto payment provider and digital asset trading platform.

Expanding Beyond Social Media

TMGT, best known for operating the conservative-leaning social media platform Truth Social, is now eyeing the booming crypto sector. According to documents cited by The New York Times, TruthFi will also offer financial custody services, signaling a serious pivot toward blockchain and digital finance.

Insiders speculate that TMGT is exploring the acquisition of Bakkt, a cryptocurrency trading and custody service, as part of its expansion strategy.

Such a move would provide the company with an established foothold in the crypto industry, further aligning with President Trump’s vision of positioning the U.S. as a global leader in digital assets.

The White House’s Crypto Push

The announcement comes amidst reports of Trump’s administration exploring a Crypto Advisory Council. This proposed team would guide national policy on digital assets, potentially under a newly created "Crypto Czar" role at the White House.

Former Commodity Futures Trading Commission (CFTC) Chair Chris Giancarlo has emerged as a frontrunner for the position, with Cardano founder Charles Hoskinson suggesting Coinbase CEO Brian Armstrong as another contender.

The council is expected to focus on bold initiatives, including the creation of a National Bitcoin Reserve. Wyoming Senator Cynthia Lummis has proposed that the U.S. Federal Reserve allocate 4% of Bitcoin’s circulating supply over the next five years and even swap some of its gold reserves for Bitcoin to strengthen the country’s digital asset holdings.

Regulatory Overhaul Underway

The pro-crypto shift under the Trump administration has already led to significant changes in Washington. Securities and Exchange Commission (SEC) Chair Gary Gensler announced his resignation, effective January 20, 2025—the day Trump takes office. Additionally, Federal Deposit Insurance Corp (FDIC) Chair Marty Gruenberg will step down on January 19, paving the way for a new wave of pro-crypto regulators.

Industry Optimism Fuels Growth

The developments have sparked enthusiasm across the cryptocurrency sector. Wealth managers such as VanEck, 21Shares, and Bitwise have submitted proposals for spot Solana exchange-traded funds (ETFs), signaling a growing appetite for institutional adoption.

Meanwhile, Coinbase CEO Brian Armstrong reportedly held initial talks with President Trump about potential collaboration, further solidifying the administration’s intent to engage industry leaders.

What’s Next for TruthFi and U.S. Crypto Policy?

With the launch of TruthFi, TMGT is poised to become a major player in the crypto space, complementing Trump’s broader push for U.S. dominance in blockchain and digital finance. As the industry braces for sweeping regulatory changes and new government-led initiatives, the stage is set for a transformative era in the cryptocurrency world.

Stay tuned for updates as we cover this story and its implications for the global crypto market.