Trump Media & Technology Group is considering a plan to separate social media platform Truth Social into a separately listed entity. The company said the move is intended to reshape its core business around cryptocurrencies.

Trump Media, founded by U.S. President Donald Trump, disclosed it is holding spin-off talks with energy fusion startup TAE Technologies and Texas Ventures Acquisition Corp III. If Truth Social is spun off, it will be placed into a new listed company called SpinCo, and Trump Media shareholders are expected to receive SpinCo shares.

The discussions are based on a merger agreement worth more than $6 billion signed with TAE Technologies in December last year. TAE Technologies is developing fusion technology solutions to meet power demand from AI data centres.

Trump Media rapidly expanded its cryptocurrency business in 2025. It launched the fintech brand TruthFi and built a bitcoin reserve holding more than 11,500 bitcoins. It has also filed with U.S. authorities for bitcoin and ethereum exchange-traded funds with Crypto.com, and a Cronos staking exchange-traded fund.

The company said it posted a loss of $712.3 million in 2025. The main reason was unrealised losses due to declines in prices of cryptocurrencies it holds and related securities. Total assets stood at about $2.5 billion at year-end, more than tripling from $776.8 million in cash and short-term investments in 2024.