Trump Media is discussing spinning off Truth Social into a separate public company via a SPAC merger with Texas Ventures Acquisition III. The move would separate their media assets from the fusion energy venture with TAE Technologies. They also reported 2025 earnings showing a net loss of $712.3 million, driven by unrealized losses on Bitcoin and Cronos. Revenue remained low at $3.68 million, though financial assets grew to $2.5 billion.