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.
More For You
Protocol Research: GoPlus Security
What to know:
More For You
U.S. inflation data surprises, with CPI higher by just 2.7% in November
Bitcoin rose above $88,000 on the pleasing news as forecasts had been for inflation to continue to run above 3%.
What to know:



Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more