Trump Media & Technology Group said it is weighing a plan to spin off its flagship platform, Truth Social, into a separately traded public company as it sharpens its focus on cryptocurrency ventures.
The company, founded by Donald Trump, disclosed Friday that it is in talks with fusion energy startup TAE Technologies and special purpose acquisition company Texas Ventures Acquisition III regarding a potential transaction that would transfer control of Truth Social.
The discussions follow Trump Media’s December merger agreement with TAE Technologies, a deal valued at more than $6 billion. Once that merger is finalized, Truth Social could be separated into a new publicly listed entity, tentatively named SpinCo, which would then merge with Texas Ventures Acquisition III. Shares of SpinCo would also be distributed to existing Trump Media shareholders.
Trump Media has significantly expanded into digital assets in 2025, launching its fintech brand Truth.Fi to support crypto-related products and services. In late September, the company also established a Bitcoin treasury holding more than 11,500 BTC.
Additionally, the company has filed applications in the US for several Truth Social-branded cryptocurrency exchange-traded funds, including products tied to Bitcoin, Ether, and Cronos with staking features, in partnership with Crypto.com. The Cronos ETF would build on a CRO treasury created in September alongside Crypto.com and Yorkville Acquisition.
Beyond crypto, Trump Media is pushing further into the energy sector — a strategy that could accelerate through its merger with TAE Technologies, which develops nuclear fusion solutions aimed at meeting rising electricity demands from artificial intelligence data centers.
The potential restructuring comes as Trump Media reported a net loss of $712.3 million for 2025, largely due to unrealized losses stemming from declines in cryptocurrency prices and related securities. Despite the losses, the company ended 2025 with approximately $2.5 billion in assets, more than triple the $776.8 million in cash and short-term investments reported the previous year.
