“Shares of American Bitcoin, a cryptocurrency mining company backed by Donald Trump Jr. and Eric Trump, have lost nearly 40% of their value.”, — write: www.pravda.com.ua
Donald Trump. Photo: Getty Images Source: Financial Times
Details: Specifically, American Bitcoin closed down 38.8%, losing roughly $1 billion of its market value. According to Bloomberg data, the share trading volume was almost 40 times higher than the daily average.
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Eric Trump explained the collapse by the fact that investors who invested $215 million in private financing in June were able to “lock in profits” for the first time. That is why, according to him, the volatility of shares is observed.
American Bitcoin is a company that produces new bitcoins through the computational process of “mining” and maintains its own “strategic” reserve of coins.
Eric Trump is the co-founder and chief strategy officer of American Bitcoin. While Donald Trump Jr. was one of the first investors. Matt Prusak, president of American Bitcoin, said the end of the stock lock-up period “affects who can buy or sell, not the assets we operate or the work the team does every day.”
American Bitcoin is one of several crypto companies backed by Trump’s sons. Notably, Donald Trump Jr. and Eric Trump also co-founded World Liberty Financial, which has issued billions of its own tokens and lists Donald Trump as co-founder emeritus. The value of its WLF token has fallen by 86% over the year, according to CoinMarketCap.
Trump Media & Technology Group, which runs Truth Social and is controlled by the president’s family, announced plans this year to raise $1.5 billion in new equity capital and another billion through convertible bonds to create a “bitcoin treasury.”
TMTG shares are down nearly 70% year-to-date. Papers of other so-called “bitcoin reserve” companies have also fallen sharply in recent months as hundreds of digital assets have sold off.
Prehistory:
- In September 2025 Donald Trump’s family became richer by 5 billion dollars after World Liberty Financial launched trading in a new digital coin.