Trump media trademarks crypto payment service ‘TruthFi’

Donald Trump’s social media company mulled launching a payment service, following interest in buying Bakkt exchange.

Donald Trump’s media and technology firm filed a trademark application for TruthFi, a crypto payment provider and digital asset trading venue. TruthFi will also offer financial custody services, according to documents submitted by Trump Media & Technology Group, per The New York Times.

The firm currently operates the social media network Truth Social with a lean team. Buying crypto trading service Bakkt might be TMGT’s strategic play to expand its business and foray into an industry that rallied support around the President’s camp.

The recently elected U.S. President and his team also assessed options for its crypto advisory council. It’s possible, but unconfirmed, that a new crypto role at the White House could spearhead this squad focused on digital asset policy.

Former Commodity Futures Trading Commission chair Chris Giancarlo was among Trump’s top picks for a so-called “Crypto Czar.” Cardano founder Charles Hoskinson recommended Coinbase CEO Brian Armstrong via X.

Reuters reported that the crypto council would prioritize forming a national Bitcoin (BTC) reserve. Wyoming Senator Lummis pitched a ball to buy 4% of Bitcoin’s circulating supply over five years. Lummis also proposed that the Federal Reserve swap some of its gold certificates to fund a bigger U.S. BTC position.

With respect to the idea of a Crypto-Czar at the Whitehouse, I feel the role needs to be filled with someone who is neutral, works with all the protocols, and has a deep understanding of why crypto is special as well as what the US government under Biden has done wron