Trump Media Abandons Crypto.com Treasury Deal to Focus on Fusion Energy
Truth Social's parent company has terminated a multibillion-dollar cryptocurrency treasury partnership to concentrate on its core platform and a major energy sector merger.
Trump Media and Technology Group, along with Crypto.com and special-purpose acquisition company Yorkville Acquisition Corp, have agreed to scrap their planned crypto treasury venture announced in the second quarter of 2025, according to reports. The three parties cited shifting market conditions and evolving business priorities as reasons for the decision.
TMTG interim CEO Kevin McGurn stated the company wanted to sharpen its focus amid an increasingly saturated digital asset treasury market. The firms also dropped plans to embed prediction markets directly into Truth Social, though Crypto.com's prediction-market offerings will still be promoted to the platform's users.
Instead, McGurn said the company plans to efficiently monetize Truth Social's audience and data while advancing an all-stock merger with fusion technology firm TAE Technologies, valued at over $6 billion. The December 2025 agreement aims to create one of the first publicly traded fusion companies and develop a 50-megawatt utility-scale fusion power plant in 2026, pending regulatory clearances. McGurn expressed confidence the deal would close before 2026 ends.
TAE Technologies, established in 1998, specializes in hydrogen-boron fusion technology and has secured over $1 billion in funding from investors including Google and Chevron.
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