Trump Media is weighing a major reshuffle that could reshape where its crypto ambitions live.
The company announced Friday that it’s considering spinning Truth Social—the conservative, “free-speech” social network championed by Donald Trump—out into a separate public vehicle dubbed “SpinCo,” which would then merge with Texas Ventures III. Trump Media said some assets would remain with the parent company, but it did not specify which ones. Shares in the newly formed entity would be distributed to Trump Media & Technology Group (DJT) shareholders ahead of the company’s previously announced, still-pending merger with fusion-energy developer TAE Technologies.
“This contemplated transaction is intended to create shareholder value through the creation of pure play companies, each with distinct strategies,” the firm said in its announcement.
Market reaction was muted. DJT shares slipped about 2.1% on the news as broader markets weakened; the stock has lost roughly 40% over the past six months and was trading near $10.73 at the time of the report.
What this means for Trump Media’s crypto projects is unclear. The company has been one of the more active corporate entrants into crypto markets: last year it added roughly $2 billion of Bitcoin and Bitcoin-linked securities to its balance sheet — a move it framed as protection against discrimination from financial institutions — and it has filed multiple ETF applications. Those filings have included a Bitcoin ETF (filed last June), a crypto “blue-chip” ETF that lists tokens such as Ethereum, Solana and XRP, and, earlier this year, joint Truth Social-branded Bitcoin and Ethereum ETFs as well as a CRO-centered product linked to Crypto.com.
Trump Media is also collaborating with Crypto.com on a digital token intended for an airdrop to the company’s shareholders; broker-participant deadlines to submit shareholder information passed earlier this month, but the token has not yet been distributed.
A company representative did not immediately respond to Decrypt’s request for comment, and Trump Media has not specified which businesses or assets would remain with the parent versus move into SpinCo. That unresolved allocation leaves open a key question for crypto watchers: will the spin-off separate Truth Social from the firm’s ETF and token initiatives, or will those crypto projects remain tied to the social-platform business? Investors and the crypto community will be watching for further disclosures as the proposed corporate restructuring progresses.
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