Prof. Richard Painter Quoted by CNN About Trump Social Media Company Starting Crypto Payment Service

Professor Richard Painter, Professor Richard Painter, S. Walter Richey Professor of Corporate Law, was quoted by CNN about Trump’s social media company exploring a crypto payment service. Trump Media & Technology Group filed a trademark application last week TruthFi, which it described as a cryptocurrency payment processing platform. The trademark application includes few specifics but lists numerous potential applications for TruthFi, including digital wallets, card payment processing services, asset management, custody service and trading in digital assets. Prof. Painter said the application brings up conflict-of-interest issues. He said, “Trump ought to do what every other president has done: Divest personal assets, Trump Organization assets, everything that creates a conflict of interest with his official duties. And that includes Truth Social and crypto.”