US Edition
Trump-backed bitcoin company begins trading on Nasdaq
- American Bitcoin, a cryptocurrency mining firm supported by Eric Trump, Donald Trump Jr., and Hut 8, started trading on the Nasdaq Wednesday under the ticker symbol ABTC following its merger with Gryphon Digital Mining.
- The merger and listing were pursued to expedite access to the public markets amid a climate of increasing regulatory developments related to cryptocurrency in the United States during the Trump administration.
- American Bitcoin employs a combined strategy of mining bitcoin and retaining the cryptocurrency as a key asset on its balance sheet, having gathered 2,443 bitcoins valued at nearly $160 million.
- Eric Trump described the Nasdaq listing as a significant achievement in integrating bitcoin into the heart of U.S. financial markets, with the company's shares surging 60% from $6.90 to $11 soon after trading began.
- The listing offers investors exposure to a Trump-linked crypto project, signaling increased mainstream integration of bitcoin mining and treasury strategies.
60 Articles
60 Articles
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Herald Bulletin
Trump-backed bitcoin company rises in first day of trading on Nasdaq
A bitcoin treasury and mining company linked to the Trump family saw its stock rise more than 16% on its first day of trading on the Nasdaq stock exchange. American Bitcoin's listing follows a merger with Gryphon Digital Mining. The…
Trump family's American Bitcoin stock surges in market debut
Shares in the Trump family’s latest cryptocurrency surged in public trading Wednesday, triggering more ethical concerns as the Trumps look to cash in on crypto as the president’s administration weakens regulations for the nascent industry
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