Trump Media considers spinning off Truth Social for IPO, accelerating focus on Bitcoin and crypto ETF business

On March 2, it was reported that Trump Media & Technology Group, founded by Donald Trump, is evaluating a plan to spin off its social media platform Truth Social. This move is seen as an important step for the company to further promote its cryptocurrency and fintech strategies. The company stated that it is currently in discussions with fusion energy company TAE Technologies and special purpose acquisition company Texas Ventures Acquisition III regarding a potential deal.

According to the disclosed plan, if the transaction proceeds, Truth Social may be spun off into a new company called SpinCo and operated as an independent publicly traded entity. SpinCo would then merge with Texas Ventures III, and its shares would be distributed to existing shareholders of Trump Media. This structure is believed to help unlock the value of the social media assets while providing capital support for the company’s expansion into fintech and crypto businesses.

In fact, Trump Media has been accelerating its digital asset initiatives in recent years. In 2025, the company launched the fintech brand Truth.Fi to support its crypto products and related services, and in September of the same year, established a Bitcoin treasury with over 11,500 BTC. Meanwhile, the company has also submitted multiple cryptocurrency ETF applications to U.S. regulators under the Truth Social brand, including Bitcoin ETF, Ethereum ETF, and a Cronos ETF supporting staking. The Cronos product is in partnership with CEX and is based on the CRO fund framework previously established by Trump Media with CEX and Yorkville Acquisition.

Beyond digital assets, Trump Media is also advancing its energy sector plans. The company previously announced a merger agreement valued at over $6 billion with TAE Technologies. TAE specializes in nuclear fusion technology, aiming to provide large-scale power solutions for AI data centers, a field that has rapidly attracted capital due to increasing AI computing demands.

However, market volatility has also put pressure on the company’s financial performance. Trump Media’s latest report projects that, due to declines in crypto assets and related securities, unrealized losses could lead to a full-year loss of up to $712.3 million in 2025. Despite this, its asset size has grown significantly, with total assets reaching approximately $2.5 billion by the end of 2025, a substantial increase from $776.8 million in cash and short-term investments in 2024.