Two projects are working to resurrect TrueCrypt. The Open Crypto Audit Project, which is now funded by the Linux Foundation, is looking at sponsoring a fork and the Swiss project TrueCryptNext is trying to create one. The non-OSI-compliant license of the codebase might create legal troubles for the developers, though.
Open Crypto Audit Project: http://opencryptoaudit.org/
TrueCrypt License: https://github.com/FreeApophis/TrueCrypt/blob/master/License.txt