Trump Media explores Truth Social separation
Trump Media & Technology Group is thinking about spinning off its main social media platform, Truth Social, into a separate publicly traded company. This potential move comes as the company continues to push deeper into cryptocurrency ventures.
The company, founded by Donald Trump, said on Friday that it’s in discussions about this deal with energy fusion startup TAE Technologies and Texas Ventures Acquisition III. Texas Ventures is what’s called a blank check company – one that would take control of the social media platform if the deal goes through.
These talks build on an earlier agreement from December, when Trump Media said it would merge with TAE Technologies in a deal valued at over $6 billion. When that merger closes, Truth Social could be spun into a new public company called SpinCo. That SpinCo would then merge with Texas Ventures III, and SpinCo shares would be distributed to existing Trump Media shareholders.
Crypto ambitions driving the strategy
What’s interesting here is how much crypto seems to be influencing these decisions. Trump Media moved into cryptocurrency in 2025, creating the fintech brand Truth.Fi to handle its crypto products and services. They also established a Bitcoin treasury with more than 11,500 BTC in late September last year.
The company has filed for several Truth Social-branded crypto exchange-traded funds in the United States. One would be for Bitcoin and Ether, while another would focus on Cronos with staking features. This latter ETF would build on the CRO treasury that Trump Media set up in September through partnerships with Crypto.com and Yorkville Acquisition.
Financial context and energy expansion
All this comes against a somewhat challenging financial backdrop. Trump Media reported on Friday that it lost $712.3 million in 2025. The company said most of those losses came from declining prices of crypto and related securities – what they call unrealized losses.
Despite the losses, the company closed 2025 with about $2.5 billion in assets. That’s more than triple the $776.8 million in cash and short-term investments it reported for 2024. So while they’re losing money on paper from crypto price drops, their overall asset position has grown significantly.
There’s also this energy angle that’s worth noting. The company is expanding into the energy sector, and that expansion could speed up through the merger with TAE Technologies. TAE develops nuclear fusion technology solutions, which they say can help meet the growing power demands of artificial intelligence data centers.
I think what we’re seeing here is a company trying to position itself across several emerging sectors at once. Social media, cryptocurrency, and now energy technology. Whether that’s too much diversification or smart positioning is something only time will tell.
The potential Truth Social spinoff seems like it could let the company focus more resources on its crypto and energy ambitions while still maintaining some connection to the social platform. But these are just discussions at this point – nothing’s finalized yet.
