Trump Media & Technology Group (DJT), the parent company of President Donald Trump’s Truth Social, has agreed to merge with nuclear fusion company TAE Technologies in an all-stock deal valued at more than $6 billion.
DJT stock rose 25% in early trading Thursday, but remains significantly lower year-to-date.
The deal transforms Trump Media from a social media operator to a clean energy and financial assets business, the company said in a press release.
This builds on the crypto strategy the company has been developing, launching a fintech arm called Truth.Fi in partnership with cryptocurrency exchange Crypto.com earlier this year, while also introducing exchange-traded funds linked to cryptocurrencies associated with BTC, ETH, SOL, XRP, and the exchange’s CRO token.
The company has also built a large cryptocurrency balance sheet. Trump Media holds 11,542 BTC worth about $1.02 billion and invested $105 million in CRO in September as part of a partnership with the exchange.
