Trump Media & Technology Group (DJT), the parent 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 higher by 25% in early trading on Thursday, though still remaining sharply lower on a year-to-date basis.
The deal will transform Trump Media from a social media operator into a clean energy and financial assets play, said the company in a press release.
It builds on a crypto strategy the firm has been rolling out, having partnered with crypto exchange Crypto.com earlier this year to launch a fintech unit called Truth.Fi, while also introducing crypto-linked exchanged traded funds tied to BTC, ETH, SOL, XRP, and the exchange’s CRO token.
The company has also built a large crypto balance sheet. Trump Media holds 11,542 BTC worth around $1.02 billion, and invested $105 million in CRO back in September as part of its partnership with the exchange.