Trump Media & Technology Group Considers Spinning Off 'Truth Social'

BlockBeats News, February 27, Donald Trump's Media Technology Group (DJT.O) is discussing spinning off its assets, including the social media platform "Truth Social," to establish a new publicly traded company. Previously, the company had completed a $6 billion merger with nuclear energy company TAE Technologies.

The company stated that the spun-off company's shares would be distributed to registered shareholders of the Trump Media Technology Group before the TAE transaction is completed, and then the spin-off company would merge with the special purpose acquisition company "Texas Ventures Acquisition III."

The spin-off aims to separate the Trump Media Technology Group's social media business from its investments in commercial nuclear fusion, as the company hopes to capitalize on the significant energy demand driven by the artificial intelligence boom for its own development. Both companies indicated that negotiations are still ongoing, and a final agreement has not yet been reached. (Jinse)