US EditionEric Trump Tries Reassuring Investors After Crypto Firm’s Stock Plunges 34%: ‘Fundamentals Are Virtually Unmatched’
Shares dropped 38% after restricted private shares became tradable, amid broader crypto market weakness and prior steep declines, company officials said.
- On Tuesday, shares from a pre-merger private placement in American Bitcoin became tradable, sparking heavy selling and repeated trading halts as the stock plunged.
- Amid a wider digital-asset rout, American Bitcoin shares fell more than 60% from a September peak through Monday's close, following a crypto market decline and nearly $1.5 billion of liquidations.
- Eric Trump posted on X that he is holding his American Bitcoin shares and wrote `I’m 100 per cent committed to leading the industry`.
- Analysts warned investors will watch future expirations closely, Brian Dobson, managing director at Clear Street, said additional equity unlocks are expected for American Bitcoin, prompting further selloffs.
- Related Trump-linked tokens and firms have seen steep losses, with Hut 8, majority stakeholder, shares falling as much as 15% Tuesday, while WLFI and ALT5 Sigma Corp. plunged over 30 and over 80.
19 Articles
19 Articles
Financial Post
MoneycontrolThe 26-minute, 51% wipeout that deepened Trumps’ crypto woes
The crash Tuesday in the crypto miner American Bitcoin Corp. was instantaneous. At 9:31 a.m. on Wall Street, just one minute after trading started, its shares were down 33 per cent. Five minutes later, losses had ballooned to 42 per cent and then, by 9:56 a.m., to more than 50 per cent.
American Bitcoin is a symbol of the "Krypto-Winter" with its strong price losses. However, the company also stands for the crash of the crypto projects of the US President's family.
American Bitcoin collapses on Wall Street due to fears of disengagement of shareholders. Eric Trump reassures: "I don't sell, I stay 100% committed. But crypto-projects related to US president burn billions
American Bitcoin shares, a cryptomonies company supported by Donald Trump Jr. and Eric Trump, have lost nearly 40% of its value, according to the Financial Times.
Eric Trump Says He's Not Selling As American Bitcoin Shares Crash 38%: 'Fundamentals Are Virtually Unmatched'
American Bitcoin Corp. (NASDAQ:ABTC) shares modestly recovered in Tuesday’s after-hours trading following a sharp drop triggered by the expiration of the lockup period for investors, including co-founder Eric Trump. ABTC stock is at key technical levels. Get the latest updates here. Early Investors Can Take Profits, Says Trump ABTC gained over 4% after-hours, but not before a sharp decline in the regular session that knocked it down more than 50…
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