Trump Media mulls Truth Social spin-off to strengthen crypto business

Trump Media Group is considering a plan to spin off its flagship social media platform, Truth Social, as a publicly traded company, Cointelegraph reported. The company previously announced it was in discussions about a potential deal with energy startup TAE Technologies and a special purpose acquisition company (SPAC), Texas Ventures Acquisition III. If these discussions are successful, Truth Social could be spun off into a new listed entity called SpinCo, which would then merge with Texas Ventures. Shares in SpinCo would also be distributed to Trump Media shareholders. The outlet suggested that the spin-off could significantly strengthen Trump Media's cryptocurrency business strategy.