Trump Media Plans Truth Social Spin-Off While Crypto Losses Weigh On Finances
Trump Media & Technology Group is reportedly considering spinning off Truth Social into a separate publicly traded company. The plan involves distributing shares of the new entity to existing investors, potentially followed by a merger with a special-purpose acquisition company. This move comes as the company faces significant financial pressure, having reported a net loss of over $700 million in the past year, largely due to declines in the value of its digital asset holdings. The spin-off would separate Truth Social from the parent company, which recently announced a shift toward energy development through a planned $6 billion merger with TAE Technologies.
bitcoinist03/02 07:31
