Trump Media Cuts Off Plan for Cryptocurrency Treasury, Focusing on Core Business and Energy Mergers and Acquisitions
2026-08-08 22:55:55
According to CoinMeta, Trump Media and Technology Group (TMTG) announced the termination of a multi-billion-dollar cryptocurrency treasury agreement with Crypto.com in order to simplify the operations of its main platforms and advance the merger with TAE Technologies. TMTG, Crypto.com, and Yorkville Acquisition Corp have agreed to abandon their CRO treasury plan, which was originally scheduled for the second quarter of 2025. Kevin Maggin, the interim CEO of TMTG, stated that the company aims to "focus on its core business" in the increasingly competitive digital asset treasury market. Additionally, both parties have given up on the plan to integrate predictive markets into Truth Social, although Crypto.com's predictive market products will be available to that platform's users. Maggin mentioned that the company hopes to effectively monetize the audience and data of Truth Social and complete a full-stock merger with TAE valued at over $6 billion. They also plan to build a 50-megawatt fusion power plant by 2026, which requires regulatory approval. TAE Technologies has already raised over $1 billion to develop hydrogen-boron fusion technology.
Source:The Daily Hodl
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