American Bitcoin, a mining and crypto treasury company backed by President Donald Trump’s sons Eric Trump and Donald Trump Jr., launched trading on Wednesday on the Nasdaq under the ticker 0 listing came just two days after another Trump-linked crypto project, World Liberty Financial, went live on exchanges, making this the second crypto debut tied to the family in the same 1 Bitcoin began trading at $6.90 per share after completing an all-stock merger with Gryphon Digital 2 company was originally a subsidiary of Hut 8, a publicly traded Bitcoin 3 the first hour, the stock spiked by as much as 90%, cooled, and by 11 4 York time was still up over 40%.
By closing time, it dipped into the red with a $45,000 trading volume logged before the 5 brothers secure dominant ownership through merger American Bitcoin was formed in March through a merger between American Data Centers, a firm controlled by Eric and Don Jr., and Hut 8, which exchanged its mining business for an 80% stake in the new company. Afterward, the Trump brothers and Hut 8 retained 98% ownership, leaving almost no room for outsiders in the cap table, as confirmed by the Wall Street 6 company raised $220 million in a June private stock sale, pulling in a mix of bitcoin and cash from 7 round included names like Cameron Winklevoss and Tyler Winklevoss, who co-founded 8 funding was used to buy additional mining equipment and expand American Bitcoin’s crypto reserves ahead of going 9 on the Nasdaq debut, Eric, who is listed as co-founder and chief strategy officer, said, “Our Nasdaq debut marks a historic milestone in bringing Bitcoin into the core of 10 markets and advancing our mission to make America the undisputed leader of the global Bitcoin economy.” Eric Trump’s cut from a crypto company has already blown past $600 million, making it one of the clearest signs yet of how deep the first family’s pockets are getting from 11 Trump clan’s total fortune has jumped to over $6.4 billion, fueled by a mix of fresh crypto ventures.
Eric’s personal haul isn’t listed on the Bloomberg Billionaires Index, but that same index says his piece of American Bitcoin alone is now worth more than the combined value of 13 Trump-branded golf courses and 12 token listing adds second crypto firm to Trump portfolio On Monday, the Trumps’ World Liberty Financial (WLFI-USD) appeared on major crypto 13 price briefly jumped and then dropped, a pattern typical for small-cap 14 of Wednesday, the token had fallen around 5%, yet still held the position of the 27th largest cryptocurrency by market cap, based on rankings from 15 token’s website lists Donald Trump, Eric, Don Jr., and Barron Trump as initial co-founders, though Trump has allegedly stepped down from any active role after assuming office 16 at Nasdaq, Asher Genoot, who chairs American Bitcoin and also serves as CEO of Hut 8, laid out the business model behind the listing: “By combining Bitcoin mining, opportunistic market purchases, and the backing of Hut 8’s energy and digital infrastructure, we have created a vehicle designed to drive rapid, efficient Bitcoin-per-share growth.” Bitcoin itself surged to $111,500 during the day, continuing a 19% increase since the start of the 17 the last two months, it has bounced between $108,000 and $123,000, tracking broader capital flows into crypto as new institutional and retail interest 18 Bitcoin is now positioned at the center of a growing web of Trump-backed digital 19 the WLFI token to the TRUMP meme coin and product lines tied to Trump Media and Technology Group (DJT), the family’s crypto involvement has expanded 20 both public and private plays, it now cuts across nearly every part of the space; from tokens to public 21 asked about his role in the expanding crypto push, Eric Trump described it as personal.
“Crypto is probably the most rewarding venture of my entire life,” he said last week ahead of the Bitcoin Asia conference in Hong 22 your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
Story Tags
Latest news and analysis from Cryptopolitan
