The Trump family strikes again: American Bitcoin makes its US stock debut, more than doubling intraday before giving back most of its gains.
BlockBeatsSep 4, 2025Following the "core token" supported by the Trump family, the Trump family is once again "raising money" in the financial market under the banner of the crypto circle. On Wednesday, the 3rd, Eastern Time, American Bitcoin, a Bitcoin mining and accumulation platform, went public on the Nasdaq under the stock trading code ABTC through a merger with its peer Gryphon Digital Mining, and its stock price soared on the first day of trading. In the early morning trading of US stocks, American Bitcoin once rose to $14.52, with an intraday increase of more than 100%, and then gave up most of its gains, closing at $8.04, up about 16.5% at the close. Due to the large fluctuations in the stock price, the stock was suspended from trading during the session. American Bitcoin is held by Donald Trump Jr. and Eric Trump, the eldest and second sons of US President Trump. After completing the equity swap merger with Gryphon Digital Mining, Trump's sons and another Bitcoin miner, $Hut 8 Corp., jointly hold 98% of the company's shares, and Gryphon's previous investors hold the remaining shares. After the token WLTI of the cryptocurrency project World Liberty Financial was listed on several crypto exchanges on Monday, American Bitcoin is the second major event this week in which the Trump family promoted crypto assets into the mainstream capital market. Its listing is seen as the latest test of investors' interest in Trump family-related cryptocurrency companies. American Bitcoin, a platform focusing on Bitcoin accumulation, calls itself a Bitcoin accumulation platform focusing on building the main Bitcoin infrastructure in the United States. It is a subsidiary mainly controlled by $Hut 8 and is positioned as a dedicated Bitcoin accumulation platform, adopting a differentiated double accumulation strategy. The company aims to maximize Bitcoin holdings per share through a combination of proprietary mining operations and opportunistic Bitcoin acquisitions. Prior to going public, American Bitcoin had hoarded approximately 2443 Bitcoins, following the so-called "corporate treasury" strategy. This strategy is promoted by Michael Saylor, co-founder of MicroStrategy, the publicly traded company with the most Bitcoin holdings in the world. American Bitcoin introduced that through its partnership with $Hut 8, it can obtain next-generation ASIC technology and utilize $Hut 8's large-scale hosting infrastructure platform for Bitcoin mining without investing heavily in building and operating proprietary data centers. American Bitcoin has mining facilities in New York, Alberta and Texas. In June of this year, American Bitcoin raised $220.00M in cash and Bitcoin through a private placement of shares to investors such as the Winklevoss brothers, co-founders of Gemini, to purchase more digital tokens and mining equipment. Asher Genoot, Executive Director of American Bitcoin and CEO of $Hut 8, said that by integrating Bitcoin mining, opportunistic market acquisitions, and $Hut 8's energy and digital infrastructure support, the company has created an investment vehicle designed to drive rapid and efficient Bitcoin growth per share. Policy environment warms up to boost the crypto market Trump became a high-profile supporter of cryptocurrencies during his campaign and became the industry's most influential advocate after taking office. He signed legislation that helped legalize certain types of cryptocurrencies, created a national virtual asset reserve, and appointed regulators who were more friendly to the industry, ending investigations into large cryptocurrency companies. With the support of the Trump administration, Bitcoin traded in the $1.08M to $1.23M range over the past two months. Trump's two sons, Donald Jr. and Eric, have appeared at cryptocurrency conferences around the world, praising the asset class. Last week, Eric Trump said ahead of a Bitcoin conference in Hong Kong that cryptocurrency is "the most rewarding business of my life." The shift in government regulatory policies has created a favorable environment for cryptocurrency companies to go public, and American Bitcoin's successful listing has been achieved against this backdrop. Eric Trump, who participated in the founding of American Bitcoin and serves as the company's chief strategy officer, said this week, "We have become a household name in the cryptocurrency space. American Bitcoin will be the greatest financial company ever." Eric also said that American Bitcoin's Nasdaq debut is "a historic milestone for Bitcoin to enter the core of the US capital market and advance our mission to make the United States the undisputed leader of the global Bitcoin economy." Trump family's crypto territory continues to expand American Bitcoin's listing marks the latest expansion of the Trump family's crypto empire. The family's crypto business now covers everything from mining operations, meme coins to stablecoins. On Monday, the Trump family-backed World Liberty Financial issued the token $WLFI, which was launched on mainstream crypto exchanges such as Binance, Bybit and OKX. $WLFI opened at $0.20, quickly soared to a high of about 40 cents within five minutes of opening, and then turned down. It once fell more than 30% from its intraday high on Monday, and is currently up about 1% from its issue price, ranking 27th largest cryptocurrency in the world by market capitalization. According to World Liberty's official website, Trump himself and his three sons are listed as the initial co-founders of the project, but Trump has resigned from relevant positions after taking office as president. The Trump family controls slightly less than a quarter of $WLFI, 22.50B tokens, through a shell company called DT Marks DEFI LLC, with a book value of $5.00B based on Monday's closing price. The token has become one of the Trump family's most valuable assets, far exceeding its traditional real estate investments such as hotels and golf courses. Wallstreetcn previously mentioned that the Trump family reached a special agreement with listed company Alt5, not to make money from the rise and fall of the token $WLFI in the secondary market. Alt5 spent $1.50B to buy $WLFI, of which 75% of the sales proceeds belong to the Trump family, instantly locking in hundreds of millions of dollars in cash. However, ethics lawyers and government regulators have expressed concerns about Trump's business interests and his family's involvement in the cryptocurrency business, especially as he relaxes regulations on the crypto or monetary industry. [Wallstreetcn]
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The Trump family strikes again: American Bitcoin makes its US stock debut, more than doubling intraday before giving back most of its gains.
BlockBeatsSep 4, 2025Following the "core token" supported by the Trump family, the Trump family is once again "raising money" in the financial market under the banner of the crypto circle. On Wednesday, the 3rd, Eastern Time, American Bitcoin, a Bitcoin mining and accumulation platform, went public on the Nasdaq under the stock trading code ABTC through a merger with its peer Gryphon Digital Mining, and its stock price soared on the first day of trading. In the early morning trading of US stocks, American Bitcoin once rose to $14.52, with an intraday increase of more than 100%, and then gave up most of its gains, closing at $8.04, up about 16.5% at the close. Due to the large fluctuations in the stock price, the stock was suspended from trading during the session. American Bitcoin is held by Donald Trump Jr. and Eric Trump, the eldest and second sons of US President Trump. After completing the equity swap merger with Gryphon Digital Mining, Trump's sons and another Bitcoin miner, Hut 8 Corp., jointly hold 98% of the company's shares, and Gryphon's previous investors hold the remaining shares. After the token WLTI of the cryptocurrency project World Liberty Financial was listed on several crypto exchanges on Monday, American Bitcoin is the second major event this week in which the Trump family promoted crypto assets into the mainstream capital market. Its listing is seen as the latest test of investors' interest in Trump family-related cryptocurrency companies. American Bitcoin, a platform focusing on Bitcoin accumulation, calls itself a Bitcoin accumulation platform focusing on building the main Bitcoin infrastructure in the United States. It is a subsidiary mainly controlled by Hut 8 and is positioned as a dedicated Bitcoin accumulation platform, adopting a differentiated double accumulation strategy. The company aims to maximize Bitcoin holdings per share through a combination of proprietary mining operations and opportunistic Bitcoin acquisitions. Prior to going public, American Bitcoin had hoarded approximately 2443 Bitcoins, following the so-called "corporate treasury" strategy. This strategy is promoted by Michael Saylor, co-founder of MicroStrategy, the publicly traded company with the most Bitcoin holdings in the world. American Bitcoin introduced that through its partnership with Hut 8, it can obtain next-generation ASIC technology and utilize Hut 8's large-scale hosting infrastructure platform for Bitcoin mining without investing heavily in building and operating proprietary data centers. American Bitcoin has mining facilities in New York, Alberta and Texas. In June of this year, American Bitcoin raised $220.00M in cash and Bitcoin through a private placement of shares to investors such as the Winklevoss brothers, co-founders of Gemini, to purchase more digital tokens and mining equipment. Asher Genoot, Executive Director of American Bitcoin and CEO of Hut 8, said that by integrating Bitcoin mining, opportunistic market acquisitions, and Hut 8's energy and digital infrastructure support, the company has created an investment vehicle designed to drive rapid and efficient Bitcoin growth per share. Policy environment warms up to boost the crypto market Trump became a high-profile supporter of cryptocurrencies during his campaign and became the industry's most influential advocate after taking office. He signed legislation that helped legalize certain types of cryptocurrencies, created a national virtual asset reserve, and appointed regulators who were more friendly to the industry, ending investigations into large cryptocurrency companies. With the support of the Trump administration, Bitcoin traded in the $1.08M to $1.23M range over the past two months. Trump's two sons, Donald Jr. and Eric, have appeared at cryptocurrency conferences around the world, praising the asset class. Last week, Eric Trump said ahead of a Bitcoin conference in Hong Kong that cryptocurrency is "the most rewarding business of my life." The shift in government regulatory policies has created a favorable environment for cryptocurrency companies to go public, and American Bitcoin's successful listing has been achieved against this backdrop. Eric Trump, who participated in the founding of American Bitcoin and serves as the company's chief strategy officer, said this week, "We have become a household name in the cryptocurrency space. American Bitcoin will be the greatest financial company ever." Eric also said that American Bitcoin's Nasdaq debut is "a historic milestone for Bitcoin to enter the core of the US capital market and advance our mission to make the United States the undisputed leader of the global Bitcoin economy." Trump family's crypto territory continues to expand American Bitcoin's listing marks the latest expansion of the Trump family's crypto empire. The family's crypto business now covers everything from mining operations, meme coins to stablecoins. On Monday, the Trump family-backed World Liberty Financial issued the token WLFI, which was launched on mainstream crypto exchanges such as Binance, Bybit and OKX. WLFI opened at $0.20, quickly soared to a high of about 40 cents within five minutes of opening, and then turned down. It once fell more than 30% from its intraday high on Monday, and is currently up about 1% from its issue price, ranking 27th largest cryptocurrency in the world by market capitalization. According to World Liberty's official website, Trump himself and his three sons are listed as the initial co-founders of the project, but Trump has resigned from relevant positions after taking office as president. The Trump family controls slightly less than a quarter of WLFI, 22.50B tokens, through a shell company called DT Marks DEFI LLC, with a book value of $5.00B based on Monday's closing price. The token has become one of the Trump family's most valuable assets, far exceeding its traditional real estate investments such as hotels and golf courses. Wallstreetcn previously mentioned that the Trump family reached a special agreement with listed company Alt5, not to make money from the rise and fall of the token WLFI in the secondary market. Alt5 spent $1.50B to buy WLFI, of which 75% of the sales proceeds belong to the Trump family, instantly locking in hundreds of millions of dollars in cash. However, ethics lawyers and government regulators have expressed concerns about Trump's business interests and his family's involvement in the cryptocurrency business, especially as he relaxes regulations on the crypto or monetary industry. [Wallstreetcn]
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