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 shares are up 25% in early trading Thursday, while still down sharply year-to-date.
The deal will transform Trump Media from a social media operator into a clean energy and financial assets company, the company said in a press release.
It builds on a crypto strategy the company has been rolling out, partnering with crypto exchange Crypto.com earlier this year to launch a fintech unit called Truth.Fi, while also introducing cryptocurrency-traded funds tied to BTC, ETH, SOL, XRP and the exchange’s CRO token.
The company has also built a significant crypto track record. Trump Media holds 11,542 BTC worth approximately $1.02 billion and invested $105 million in CRO in September as part of its partnership with the exchange.
