Trump Media explores spinning out Truth Social amid crypto developments
- Trump Media & Technology Group is considering a spin-out of its platform, Truth Social, into a publicly traded company.
- The potential deal involves TAE Technologies and Texas Ventures Acquisition III, building on a previous merger agreement valued at over $6 billion.
- In late September, Trump Media established a Bitcoin treasury with over 11,500 BTC.
- The company has filed for several crypto exchange-traded funds (ETFs) in the US, including ones for Bitcoin and Ether.
- In its latest report, Trump Media reported a loss of $712.3 million in assets for the year due to declining crypto prices.
This potential spin-out could enhance Trump Media’s focus on its crypto initiatives while addressing significant financial losses attributed to unrealized declines in cryptocurrency values.
With approximately $2.5 billion in assets as of the end of the year, the company’s strategic moves may reshape its future in both social media and cryptocurrency sectors.
