DJT Stock Gains as Truth Social Company Ditches Ambitious Crypto Plans

The Truth Social company is stepping back from its ambitious cryptocurrency ventures and focusing on completing its proposed merger with nuclear fusion firm TAE before year-end, according to an exclusive interview with interim CEO Kevin McGurn published by Axios.

Trump Media & Technology Group (DJT) rose 3% on Friday following reports the company is refocusing resources on its core social network, expanding data licensing, and advancing a pending merger with TAE. The strategic simplification aims to streamline operations as the firm prepares for its proposed merger with TAE.

The parent company of Truth Social has mutually agreed with digital asset platform Crypto.com and special purpose acquisition company Yorkville Acquisition Corp. to terminate plans for the 'Trump Media Group CRO Strategy'. The proposed venture, originally formulated during the 2025 cryptocurrency treasury surge, was designed to license the Trump Media brand to accumulate a large treasury of Crypto.com's native CRO token on its Cronos blockchain.

The companies plan to enter a marketing partnership to promote Crypto.com's existing prediction-market tools to Truth Social's user base. McGurn explained that establishing proprietary back-end exchange infrastructure in a crowded prediction market was an inefficient use of corporate capital. Trump Media sees greater opportunity in operating as a distribution and data partner rather than an operator of financial platforms.