PANews reported on November 22 that according to the New York Times, US President-elect Donald Trump's social media company Trump Media & Technology Group recently submitted a trademark application to launch a crypto payment service called "TruthFi". The platform will focus on crypto payments, financial custody and digital asset transactions.

Although the application document does not provide detailed information, industry analysts believe that Trump Media's move may be to expand its business scope beyond the Truth Social platform, which currently relies on Trump's personal influence. Sources revealed that Trump Media may need to advance the project through acquisitions. There are reports that it is negotiating an acquisition with the crypto trading platform Bakkt , but both parties have not commented on this.