Renowned economist Peter Schiff Thursday said Republicans who spent years attacking the Bidens over alleged influence-trading would be “total hypocrites” if they stay silent about President Donald Trump’s business empire now that Trump Media & Technology Group (DJT) has announced a $6 billion fusion-energy merger that critics say relies heavily on Trump’s political power.
What Happened
In an X post on Thursday, Schiff argued that DJT’s shifting business model, from social media, to a Bitcoin (BTC)-treasury play, to now a fusion-power venture, highlights that “the business itself is not the point.”
Instead, he said, the only clear value DJT brings to TAE Technologies is political access, an accusation that echoes past scrutiny of Hunter Biden’s business ties.
“The Bidens must be green with envy. Republicans who rightly attacked the Bidens will be total hypocrites if they stay silent now, considering the Bidens were dealing in chump change compared to the billions flowing to the Trumps,” Schiff wrote.
What Happened
His comments followed a press release announcing Trump Media’s plan to merge with California-based fusion company TAE Technologies in an all-stock deal valued at more than $6 billion.
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The combined company aims to begin building what it says will be the world’s first utility-scale fusion power plant in 2026.
TMTG will also become the holding company for Truth Social and a range of Trump-associated ventures.
In the release, TMTG Chairman Devin Nunes framed the merger as a step toward securing “America’s global energy dominance.”
TAE Technologies, which has raised more than $1.3 billion from investors including Google, Chevron and Goldman Sachs, says its technology is now ready for commercial deployment.
But Schiff argues the political implications overshadow the technology story.
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