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Trump Media Eyes Spinning Out Truth Social Amid Crypto Push

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Trump Media & Technology Group is weighing a structural pivot that could redefine its crypto playbook: spinning Truth Social into a publicly traded entity as part of ongoing talks with energy-fusion developer TAE Technologies and Texas Ventures Acquisition III, a SPAC that would take the platform public. If the merger advances, Truth Social would become a stand-alone company named SpinCo, which would subsequently merge with Texas Ventures III, with SpinCo shares distributed to Trump Media shareholders. The arrangement follows a December merger agreement valued at more than $6 billion and aligns with the company’s broader strategy to monetize its platform through fintech and crypto ventures while pursuing energy-tech ambitions. The moves come against a backdrop of Trump Media’s forays into crypto and digital assets, including a Bitcoin treasury that has been built up over time and a slate of crypto product filings that signal a broader push into tokenized finance.

Key takeaways

  • The Truth Social spin-out would be paired with a merger between TAE Technologies and Trump Media, with SpinCo expected to merge into Texas Ventures Acquisition III and distribute SpinCo shares to Trump Media shareholders once closed.
  • Truth Media’s crypto arm, launched as Truth.Fi in 2025, now anchors a broader crypto strategy that includes a Bitcoin treasury and a portfolio of crypto ETFs filed in the US, including those tracking Bitcoin (BTC), Ether (ETH), and Cronos (CRO) with staking options.
  • The SPAC-backed deal and spin-out are tied to a merger with TAE Technologies, a project that could accelerate Trump Media’s interests in energy fusion and related data-center deployments driven by AI workloads.
  • Financial disclosures from 2025 show a significant unrealized drag from crypto prices, with a stated loss of about $712.3 million for the year and end-2025 assets around $2.5 billion, illustrating the volatility and risk in crypto-focused corporate ventures.
  • Regulatory and market developments in the near term—SEC filings, merger approvals, and ETF approvals—will shape whether SpinCo can launch as planned and how quickly Truth Social’s crypto ambitions scale.

Tickers mentioned: $BTC, $ETH, $CRO

Sentiment: Neutral

Market context: The unfolding discussions reflect a broader wave of corporate actors pursuing crypto and blockchain-related products within SPAC-structured deals and strategic partnerships, even as macro liquidity and regulatory scrutiny shape the pace of such initiatives.

Why it matters

The potential spin-out of Truth Social into a separately listed company marks a notable shift in how Trump Media plans to monetize its user base and brand footprint. By isolating Truth Social within a public vehicle—SpinCo—the group could unlock capital markets’ interest in a platform with significant reach, while kaleidoscopically aligning with a diversification strategy that extends into fintech, crypto, and energy tech. The arrangement would place SpinCo in a position to pursue crypto product innovations and tokenized offerings without immediate interference from the parent’s other lines of business, potentially attracting investors drawn to crypto-enabled social platforms and revenue streams tied to digital assets.

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Truth Media’s crypto arm, launched under the Truth.Fi umbrella, has evolved into a broader fintech initiative that includes a Bitcoin treasury and an appetite for crypto exchange-traded products. The company has filed for Truth Social-branded crypto ETFs in the United States, including ones focused on Bitcoin (BTC) and Ether (ETH) as well as Cronos (CRO), with staking features linked to its ecosystem and a backend partnership framework with Crypto.com. This suite of filings signals an intent to create regulated, investable crypto products that could broaden the company’s investor base and provide diversified exposure to digital assets beyond the social media platform. The plan incorporates the Crypto.com partnership as a crucial enabler for the CRO-related ETF strategy and treasury mechanics.

On the energy front, the merger with TAE Technologies is pitched as a synergy play: a fusion-focused technology developer that could support the power needs of expanding AI data centers and other high-demand workloads. The tie-up would integrate Trump Media’s media and fintech ventures with a long-horizon energy project, aligning with a broader industry trend where crypto mining and blockchain infrastructure searches intersect with energy procurement and efficiency initiatives. The combination could create a framework for deploying fusion-powered energy solutions in data centers, potentially reducing energy costs and capacity constraints for crypto and fintech operations that require robust compute resources.

Financial disclosures from 2025 illustrate the risk profile of such ambitious ventures. Trump Media reported a loss of about $712.3 million for the year, driven largely by unrealized losses tied to crypto prices and related securities. At year’s end, the company noted roughly $2.5 billion in assets, a figure that dwarfs the $776.8 million cash and short-term investments reported for 2024. These numbers underscore the sensitivity of crypto ventures to price cycles and market sentiment, while also highlighting the capital intensity of pursuing a combined media, fintech, and energy-tech agenda. The public-private nature of the SpinCo proposition means investors will be scrutinizing how the tech stack—from Truth.Fi-powered products to fusion-energy capabilities—can scale and become financially material over time.

The storyline also hints at a broader narrative around governance, valuation, and timing. The proposed path—Truth Social’s spin-out followed by a merger with a SPAC—depends on closing conditions, regulatory clearances, and market reception. If the merger with TAE Technologies proceeds, SpinCo would be positioned as a listed vehicle that retains exposure to the crypto product suite while benefiting from the potential upside of energy-tech partnerships. The discussions reflect a strategic attempt to combine a high-visibility social platform with a diversified set of growth engines, including digital assets and energy innovation, in a bid to create value across multiple cycles and market conditions.

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From a market-structure perspective, the plan underscores how corporate entities pursue crypto-adjacent strategies by leveraging SPAC frameworks and multi-industry combinations. It also raises questions about risk management, liquidity, and concentration risk in a portfolio that spans social media, fintech, and energy tech. As the parties move through due diligence, investors will be looking for clarity on how SpinCo’s governance, earnings potential, and asset allocation will be balanced against the volatility inherent in crypto markets and the evolving regulatory landscape surrounding crypto ETFs and digital assets.

For now, Trump Media’s narrative remains a blend of strategic ambition and regulatory navigation. The company has not announced a closing date for the merger or SpinCo listing, and the outcome will hinge on regulatory approvals, investor sentiment, and the successful execution of the merger with TAE Technologies. Stakeholders will be watching the timeline for SpinCo’s listing, any subsequent stock distributions to Trump Media holders, and updates on the Truth.Fi roadmap, including ETF approvals and the performance of the Bitcoin treasury and CRO treasury-backed initiatives.

What to watch next

  • Clearance and timing of the SpinCo formation and its merger with Texas Ventures Acquisition III; any regulatory milestones or approvals with a timeline.
  • Status updates on the TAE Technologies merger, including closing conditions and any amendments to the original >$6B valuation.
  • Progress of Truth Social-branded crypto ETFs, with updates on SEC approvals, product launches, and staking features.
  • Development and deployment schedules for Truth.Fi products and the performance of the Bitcoin and Cronos treasuries under Crypto.com and Yorkville Acquisition partnerships.
  • Regulatory or market developments affecting SPAC activity and crypto-centric offerings that could influence investor appetite for SpinCo and related assets.

Sources & verification

  • Trump Media & Technology Group discusses spinning Truth Social into SpinCo as part of a potential deal with TAE Technologies and a SPAC vehicle (the merger agreement listing and SPAC structure).
  • The merger agreement with TAE Technologies for a deal valued at more than $6 billion.
  • Truth.Fi crypto initiative and a Bitcoin treasury reported by Trump Media, including holdings exceeding 11,500 BTC as of late September.
  • Truth Social-branded crypto ETFs filed in the US for BTC, ETH, and CRO, including staking arrangements, tied to partnerships with Crypto.com.
  • Partnerships and related disclosures connecting CRO ETFs to the CRO treasury and Yorkville Acquisition.

Trump Media’s potential spin-out ties Truth Social to broader crypto and fusion-energy ambitions

Trump Media & Technology Group is exploring a path that could redefine how a presidential brand expands into crypto, while layering in energy-tech ambitions. The core idea is to spin Truth Social, the company’s flagship social platform, into its own publicly traded entity—SpinCo—then merge that vehicle with Texas Ventures Acquisition III, a blank-check company. The hailed trigger is the ongoing merger with TAE Technologies, the energy-fusion startup that has been positioned as a strategic partner in the broader plan. The deal landscape suggests a multi-layered strategy: a public listing for Truth Social within SpinCo, followed by a merger with SPAC sponsor Texas Ventures III, and a distribution of SpinCo shares to Trump Media shareholders, all contingent on the closing of the merger with TAE Technologies, which itself has a reported value exceeding $6 billion.

Within this framework, Truth Media has emphasized crypto as a growth vector. In 2025, the company expanded its fintech footprint under the Truth.Fi banner, laying the groundwork for crypto products and services that could sit alongside a social platform with a global footprint. A key element of this expansion has been a Bitcoin treasury reported to be in excess of 11,500 BTC as of late September, underscoring a deliberate accumulation of digital assets that could support future product launches or collateral arrangements. The crypto strategy is further reflected in the filing of Truth Social-branded crypto ETFs in the United States—facilities that would allow investors to gain exposure to BTC, ETH, and the Cronos ecosystem while embedding staking features. The ETFs are linked to ongoing partnerships that include Crypto.com, a connection that appears central to the CRO ETF and related treasury operations.

Beyond the crypto dimension, the merger with TAE Technologies signals a parallel emphasis on energy innovation. TAE’s fusion technology is portrayed as a mechanism to address the growing power demands of AI data centers and other data-intensive infrastructure. If realized, the combination would tether a social-media-centric fintech venture to a fusion-energy roadmap, marrying user engagement with a long-horizon energy supply strategy. The ambition is not merely to diversify revenue streams but to create an integrated platform where crypto products, fintech services, and energy tech coalesce under a single corporate umbrella. The public listing—which SpinCo would pursue through the SPAC route—could also broaden access to capital, enabling more ambitious product development and potential partnerships in the crypto and high-performance computing ecosystems.

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Of course, the path forward remains contingent on a series of milestones. The 2025 financials already reveal a challenging year, with a reported loss of about $712.3 million largely tied to unrealized crypto losses and related securities, alongside end-of-year assets around $2.5 billion. The figures illustrate the risk profile inherent in crypto-centered corporate bets, where price swings and regulatory shifts can swiftly impact balance sheets. Investors will be evaluating whether SpinCo’s governance, capital structure, and cash flow prospects demonstrate a credible route to profitability, or whether the proposals remain predominantly strategic, with upside tied to future crypto adoption and energy-tech commercialization. As always, the timing of regulatory approvals, due diligence, and market conditions will ultimately shape whether SpinCo’s vision becomes a measurable segment of Trump Media’s portfolio or remains an aspirational blueprint for a broader ecosystem that blends social media, crypto, and fusion energy.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Spot Bitcoin ETFs Near $1 Billion in Weekly Inflows, Best Stretch Since Mid-January

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Spot Bitcoin ETFs Near $1 Billion in Weekly Inflows, Best Stretch Since Mid-January

Spot Bitcoin ETFs logged nearly $1 billion in weekly net inflows last week, their strongest seven-day stretch since mid-January, per CoinGlass flow data.

BlackRock’s IBIT alone absorbed $612 million of that total, confirming institutional concentration in the dominant fund. The core question now: does this flow momentum translate into durable price support, or does tactical resistance cap the rally again?

Year-to-date Bitcoin product inflows have turned positive for the first time since January, a threshold Bloomberg ETF analyst Eric Balchunas flagged as signaling “extraordinary institutional acceptance” of Bitcoin as an asset class.

Total net assets across all U.S. spot Bitcoin ETFs surpassed $101 billion by Friday’s close, with daily trading volumes approaching $4.8 billion.

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Key Takeaways:
  • Weekly inflows: Nearly $1 billion – highest since mid-January
  • IBIT dominance: BlackRock captured $612 million of total flows
  • Total net assets: Surpassed $101 billion by end of week
  • YTD flows: Turned positive for first time since January per Bloomberg’s Balchunas
  • Global share: U.S. institutions captured 96.4% of $1.1 billion in global crypto product inflows
  • ETH ETFs: $275 million net inflows; XRP ETFs added $11.75 million; Solana lost $5.6 million

Discover: The best crypto to diversify your portfolio with

What $1 Billion in Weekly Bitcoin ETFs Inflows Actually Signals

The weekly flow breakdown reveals a Friday-heavy pattern: $663.9 million hit on Friday alone, roughly two-thirds of the total, with Tuesday contributing $411.5 million and Wednesday adding $186 million. Thursday brought just $26 million, and Monday registered a $291 million outflow. That volatility in daily flows suggests opportunistic accumulation rather than a steady institutional drip.

Total Bitcoin Spot ETF Net Inflow / Source: SoSoValue

IBIT’s $612 million weekly haul pushed its market cap to $159.22 billion, placing it among the world’s largest ETFs by assets. Fidelity’s FBTC also contributed meaningfully to inflows, while Grayscale’s GBTC continued to bleed – a split that reflects sustained conviction in lower-fee products and residual exit pressure from legacy holders.

U.S. institutions captured 96.4% of global crypto product inflows last week, absorbing $1.06 billion of a $1.1 billion global total. That concentration matters: it signals that Bitcoin demand is increasingly centralized in regulated U.S. vehicles, making ETF flow data the most reliable leading indicator for near-term BTC price direction.

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If weekly inflows sustain above $750 million, BTC’s support floor around current levels strengthens materially. If flows revert toward the $200–$300 million range seen during January’s plateau, the bid thins out fast.

Total Ethereum Spot ETF Net Inflow / Source: SoSoValue

Ethereum spot ETFs pulled in $275 million net last week, XRP ETFs added $11.75 million, and Solana shed $5.6 million; this was selective altcoin rotation, not a broad risk-on flush.

Discover: The best pre-launch token sales

The post Spot Bitcoin ETFs Near $1 Billion in Weekly Inflows, Best Stretch Since Mid-January appeared first on Cryptonews.

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Bitmine acquires more than $230 million in ether (ETH) its largest weekly haul of 2026

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Bitmine (BMNR) buys 65,341 ETH worth $138 million betting on crypto slump ending

BitMine Immersion Technologies (BMNR), the largest Ethereum-focused digital asset treasury firm, sped up its crypto purchase pace as chairman Tom Lee sees growing signs of the crypto “mini-winter” ending.

The firm reported Monday it acquired 101,627 ether (ETH) last week, its largest weekly haul since December 15. The purchase, worth roughly over $230 million at current ETH prices, lifted BitMine’s total holdings to 4.97 million ETH.

The move comes as most digital asset treasuries — except Michael Saylor’s bitcoin-focused Strategy (MSTR) — have slowed or halted buying in recent months. BitMine remains among the last large-scale buyers of ether-focused treasuries, continuing to provide a steady source of demand for ETH.

BitMine’s total crypto and cash holdings stand at $12.9 billion. In addition to its ETH treasury, the firm holds 199 bitcoin, $1.12 billion in cash and equity stakes including investments in Beast Industries and Eightco Holdings.

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Chairman Thomas Lee said the firm sees signs that the recent downturn is nearing an end, pointing to ETH’s rebound and broader market dynamics.

“Bitmine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case ETH is in the final stages of the ‘mini-crypto winter,’” Lee said.

He added that ether has risen sharply from its early February lows and has outperformed equities since the start of the Iran conflict, supported by demand tied to tokenization and AI-related use cases.

BitMine has also continued expanding its staking operations. The firm has staked more than 3.3 million ETH, or about two-third of its holdings, generating roughly $221 million in annualized revenue.

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MSTR buys 34,164 BTC for $2.54 billion

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MSTR may have paused it's BTC accumulation last week

Michael Saylor’s Strategy (MSTR) added 34,164 bitcoin to its treasury over the past week at an average price of about $74,395 per coin, for a total cost of roughly $2.54 billion, according to a Monday filing.

The purchase brings the company’s total holdings to 815,061 BTC, acquired for approximately $61.56 billion at an average cost basis of $75,527. With BTC currently trading at around $75,000, Strategy’s stash is currently break even. Strategy is the world’s largest publicly-listed bitcoin holder. It began acquiring BTC as a balance sheet asset in 2020.

Last week’s acquisitions were funded by $2.2 million raised through sales of the company’s preferred stock, Stretch (STRC), and $366 million from common stock offerings.

MSTR shares are down more than 2.5% in pre-market trading.

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Vercel breach leaves DeFi frontends dangling on a $2M ransom

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Vercel breach leaves DeFi frontends dangling on a $2M ransom

Users have been advised to stop interacting with any DeFi application for a few days after Vercel, the creator of Next.js and cloud provider for a large number of crypto’s user-facing platforms, admitted that attackers breached its internal systems.

According to Vercel CEO Guillermo Rauch, the attack happened when one of its employees “got compromised via the breach of an AI platform customer called Context.ai that he was using.”

The attackers, who Rauch says were “significantly accelerated by AI,” apparently escalated through the employee’s Google Workspace account into Vercel’s corporate environment.

A BreachForums seller claiming to be extortion crew ShinyHunters is demanding a $2 million ransom via a listing that allegedly includes GitHub tokens. 

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For DeFi, the incident is a nightmare. A user interacting with a poisoned Next.js package via a website can sign a transaction straight into an attacker’s wallet.

Vercel disclosed the incident in a Sunday security bulletin, saying that it had found “unauthorized access to certain internal Vercel systems” and had already engaged law enforcement.

Following the disclosure, X user and Cork Protocol CTO “Pybast,” who is also former CTO of DeFi cybersecurity company Nefture, warned users to stop interacting with “any DeFi application,” adding that “a lot of DeFi is hosted on Vercel and crypto users are a prime target for such attack.”

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Comically, he suggested eth.limo, which also had its own security incident on the same day, as a safer alternative.

Next.js cleared 520 million downloads in 2025, according to Rauch. DeFi dashboards, crypto wallet connectors, and token launchpads use it. 

Members of the crypto community were concerned that the hacker could use Vercel credentials to push malicious code to dependencies pulled by thousands of downstream projects.

Rauch has named Mandiant, Google’s incident-response arm, as the firm assisting with incident response.

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Only a “limited subset of customers” was affected, Rauch claimed, and services remained operational. 

Read more: ‘Decentralized’ apps suffer after Ledger Connect Kit attack

DeFi terrified after Vercel breach

A screenshot of the ransom notice, published by BleepingComputer, advertises multiple employee accounts, internal deployments, API keys, and GitHub tokens. 

The vendor attached hundreds of employee records, a screenshot of Vercel’s internal Linear instance, and what appears to be an internal enterprise dashboard.

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BleepingComputer couldn’t verify their authenticity. 

Curiously, threat actors tied to the actual ShinyHunters extortion crew told BleepingComputer that they had nothing to do with this particular caper.

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

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Melbet APK Maroc scurit et protection des utilisateurs.94

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Bridging for Yield: Hidden Risk and Hidden Alpha

Si vous cherchez un site de pari sportif fiable et sécurisé, vous êtes au bon endroit. Dans cet article, nous allons vous présenter les avantages de l’application Melbet APK Maroc et les mesures de sécurité mises en place pour protéger vos informations personnelles.

Télécharger Melbet est un choix populaire parmi les fans de sport et les passionnés de jeu. Cependant, il est important de choisir une version APK fiable et sécurisée pour éviter les problèmes de sécurité. Dans ce contexte, l’application Melbet APK Maroc est une excellente option.

La sécurité est un des principaux objectifs de Melbet. L’application utilise des protocoles de sécurité de pointe pour protéger vos informations personnelles et vos transactions. De plus, Melbet dispose d’une équipe de sécurité expérimentée qui travaille en permanence pour détecter et prévenir les menaces potentielles.

En téléchargeant Melbet APK Maroc, vous bénéficiez d’une expérience de jeu sécurisée et fiable. L’application est disponible pour téléchargement sur le site officiel de Melbet et peut être installée sur votre appareil mobile ou ordinateur.

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En résumé, l’application Melbet melbet app APK Maroc est une excellente option pour les fans de sport et les passionnés de jeu qui cherchent une expérience de jeu sécurisée et fiable. Avec ses mesures de sécurité mises en place et son équipe de sécurité expérimentée, Melbet est un choix sûr pour vos paris sportifs.

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Melbet APK Maroc : Sécurité et protection des utilisateurs

Pour garantir une expérience de jeu sécurisée et protégée, il est essentiel de télécharger l’application Melbet APK Maroc. Cette application offre une variété de fonctionnalités pour protéger vos informations personnelles et votre argent.

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En téléchargeant l’application Melbet APK Maroc, vous pouvez être sûr que vos données sont cryptées et protégées par des mesures de sécurité robustes. De plus, l’application offre une fonction de verrouillage pour empêcher les accès non autorisés à votre compte.

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La nécessité d’une application sécurisé

Il est essentiel de disposer d’une application sécurisée pour protéger vos informations personnelles et vos transactions en ligne. La mélbet app est une application sécurisée qui garantit la confidentialité de vos informations et la protection de vos transactions.

En téléchargeant la mélbet app, vous pouvez être sûr que vos informations sont protégées et que vos transactions sont sécurisées. La mélbet app utilise des méthodes de cryptage avancées pour protéger vos informations et vos transactions.

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En résumé, la mélbet app est une application sécurisée qui garantit la confidentialité de vos informations et la protection de vos transactions. Il est essentiel de disposer d’une application sécurisée pour protéger vos informations personnelles et vos transactions en ligne.

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AST falls after Bezos’ Blue Origin places satellite in wrong orbit

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A Blue Origin New Glenn rocket carrying an AST SpaceMobile Bluebird 7 satellite launches from pad 36 at Cape Canaveral Space Force Station on April 19, 2026 in Cape Canaveral, Florida.

Paul Hennesy | Anadolu | Getty Images

A failed satellite launch sent of AST SpaceMobile down sharply on Monday.

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The stock fell nearly 12% in premarket trading after a rocket designed by Jeff Bezos’ space technology company Blue Origin placed the satellite in a lower-than-planned orbit on Sunday. 

AST SpaceMobile’s BlueBird 7 satellite would have been the company’s eighth launched into low-earth orbit, the company said in a Sunday press release. It was launched on Blue Origin’s third New Glenn rocket.

Blue Origin acknowledged in a post on X that the satellite was placed into the wrong orbit, but only added it was assessing the situation and would provide further updates. The company hasn’t made a statement since the satellite was officially deemed lost. 

The cost of the satellite loss is expected to be covered by an insurance policy, AST said in the release. It also still expects to launch a satellite on average once every one to two months in 2026, and said BlueBird satellites 8, 9 and 10 should be ready to ship in 30 days. 

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ASTS year-to-date chart.

William Blair analyst Louie DiPalma thinks that AST’s goal of 45 satellites in orbit by year-end will likely be hard to hit now. However, he didn’t see Sunday’s events as a total loss for the company.

“AST gained experience integrating its satellite with New Glenn and working with the Blue Origin team,” DiPalma wrote in a Monday note. “This experience will be integral for future missions. The silver lining is that there was only one satellite on board, whereas future New Glenn launches may have as many as eight of AST’s BlueBirds.”

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While Clear Street analyst Greg Pendy was still bullish on the stock, reiterating a buy rating after the news, he cut his price target to $115 from $137. That’s still a 34% gain from Friday’s close, but much less than his previously forecasted 60% jump in shares. 

UBS analyst Christopher Schoell said in a note the financial impact on AST will be limited, but added that AST and its share price performance are now linked with Bezos’ Blue Origin. 

“We believe the success of Blue Origin’s New Glenn vehicle … is key to meeting year-end deployment targets/ management’s 2027 revenue goal, and expect the uncertainty to weigh on investor sentiment initially pending greater clarity,” Schoell wrote.

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Fermi (FRMI) Stock Plunges 20% as Top Executives Depart Amid Major Restructuring

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FRMI Stock Card

Key Takeaways

  • Fermi (FRMI) shares plummeted 20% to $5.27 during premarket hours Monday following executive departures
  • CEO Toby Neugebauer resigned; CFO Miles Everson simultaneously exited his role
  • Board members had been evaluating potential CEO replacement for a minimum of three months
  • Company unveiled “Fermi 2.0” initiative, representing a comprehensive overhaul of governance and strategy
  • Evercore analysts reaffirmed Outperform rating with $20 price target for FRMI

Shares of Fermi (FRMI) tumbled 20% on Monday following the data-center company’s announcement that both its chief executive and chief financial officer would be exiting, prompting a comprehensive leadership transformation the firm has branded “Fermi 2.0.”


FRMI Stock Card
Fermi Inc. Common Stock, FRMI

Co-founder and CEO Toby Neugebauer, who established the company with former Texas Governor and U.S. Energy Secretary Rick Perry, resigned with immediate effect. Neugebauer will continue serving as a board member.

According to reports, the board had been deliberating a potential CEO replacement for no less than three months. Several sell-side analysts verified this timeline after participating in a management conference call that followed the public disclosure.

CFO Miles Everson similarly departed from his executive position. Following his resignation, Everson was appointed to the board after a trust controlled by the Neugebauer family executed its board nomination privileges.

The board has initiated an active search for Neugebauer’s successor. Leadership recruitment firm Heidrick & Struggles has been retained, with a committee composed of independent board members overseeing the selection process.

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Fermi has additionally established an Office of the CEO to maintain business continuity throughout the transition period. Jacobo Ortiz Blanes, the former COO, and Anna Bofa, previously serving as a Board Advisor, have been promoted to Co-Presidents and will answer to newly designated Chairman Marius Haas.

Haas, who formerly held the position of Lead Independent Board Director, assumed the role of Executive Chairman immediately.

Jeffrey S. Stein, co-founder of Breakpoint Advisory Partners, joined the board as a new member, increasing the board size from five to seven seats.

Executive Transition Linked to Tenant Acquisition Struggles

The management upheaval arrives as Fermi has encountered difficulties securing a major anchor tenant for its Project Matador development in Amarillo, Texas. The massive 7,570-acre property is designed to become the world’s largest data center facility.

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Company officials emphasized that the transition would not impair its capacity to deliver electrical infrastructure or execute tenant agreements. Management noted that prospective lease negotiations had actually intensified, with potential clients resuming engagement within 48 hours following the announcement.

Evercore analyst Nicholas Amicucci characterized the transformation as a shift in leadership philosophy while maintaining operational momentum. Evercore maintained its Outperform rating and $20 price target on the stock.

FRMI shares had already declined 18% year-to-date before Monday’s trading session, with the premarket selloff driving the price down to $5.27.

Corporate Headquarters Relocation and Expansion Strategy

As a component of the Fermi 2.0 initiative, company leadership revealed plans to relocate corporate headquarters to Dallas. Additionally, Fermi intends to develop a dedicated corporate office facility at the Project Matador location in Amarillo.

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Management stated these strategic moves represent the company’s evolution from startup phase to large-scale enterprise operations.

Texas Tech University System Chancellor Brandon Creighton reaffirmed the university’s ongoing commitment to its collaboration with Fermi America. Negotiations continue regarding potential extensions to certain milestone deadlines contained in the lease agreement as Project Matador progresses.

The company indicated it would name an Interim CFO within the current week.

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Crypto World

Crypto Funds Post $1.4B Inflows as BTC Almost Touches $78K

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Crypto Funds Post $1.4B Inflows as BTC Almost Touches $78K

Cryptocurrency investment products logged another week of strong inflows on ceasefire optimism and a Bitcoin price breakout driving investor sentiment.

Crypto exchange-traded products (ETPs) posted $1.4 billion in inflows last week, beating the prior week’s $1.1 billion and marking the second-largest weekly inflows since January, CoinShares reported on Monday.

Following the three-week inflow streak totaling $2.7 billion, crypto ETPs now have net year-to-date inflows of around $3.8 billion, with assets under management (AUM) at $154.8 billion — the highest level since early February after dipping to as low as $128 billion in March.

The uptick in crypto funds has likely been driven by a recovery in risk appetite on US-Iran ceasefire extension talks, CoinShares head of research James Butterfill said.

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The sentiment was further reinforced by Bitcoin (BTC) nearly touching $78,000 on Friday, according to CoinGecko.

Ether funds turn positive year to date

Bitcoin led last week’s ETP gains by a significant margin, with inflows totaling $1.12 billion. The gains brought year-to-date inflows to $3 billion, with AUM at $123 billion.

The majority of gains were contributed by US spot Bitcoin exchange-traded funds (ETFs), which posted $1 billion in inflows last week.

Ether (ETH) investment products also picked up with $328 million inflows in its strongest week since January, finally lifting the ETPs into green year-to-date with $197 million inflows.

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Crypto ETP flows by asset (in millions of US dollars). Source: CoinShares

Still, altcoin ETPs, including XRP (XRP) and Solana (SOL), recorded negative flows, with XRP leading the outflows at $56 million. Solana recorded minor outflows of $2.3 million.

Short-Bitcoin products saw a modest $1.4 million of inflows, suggesting residual but limited hedging demand.

Regionally, the US dominated the surge with $1.5 billion of inflows, while Germany ranked second with just $28 million of inflows. Switzerland saw the largest redemptions last week, with outflows totaling $138 million.

Addressing the implications of recent economic data, CoinShares’ Butterfill suggested that March’s Consumer Price Index (CPI) increase of 3.3% appears to have been largely looked through by markets, with core CPI at 2.6% seen as relatively contained, pointing to inflation pressures that remain more supply-driven than broad-based.

Related: Bitcoin erases weekend gains as US-Iran ceasefire faces pressure

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Nomura’s Laser Digital echoed that view, telling Cointelegraph that backward-looking macro indicators currently offer only limited insight while conflicts continue to affect supply chains and spending patterns.

“Delayed indicators like CPI and PMIs mostly reflect past conditions rather than the current situation,” Laser Digital said, adding that the outlook remains “cautiously optimistic.”

Bitcoin Price, Iran, CoinShares, Ethereum ETF, Bitcoin ETF, ETF
The Crypto Fear & Greed Index. Source: Alternative.me

Sentiment improvement was also reflected in the Crypto Fear & Greed Index, which moved from “extreme fear” to “fear,” with the score rising above 29 on Monday for the first time since Jan. 29.

Magazine: Bitcoin ‘on track’ for $90K, ETFs pull in nearly $1B: Hodler’s Digest, April 12 – 18