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The Independent UK
The Independent UK
Business
Graig Graziosi

Bitcoin firm connected to Trump brothers sees value tank after investors unload their holdings

Eric Trump Bitcoin Donald Trump Jr. American Bitcoin Donald Trump ABTC Crypto

The Bitcoin mining firm co-founded by Eric and Donald Trump Jr .saw its stock price tank moments after portions of its shares were unlocked for sale.

On Tuesday, American Bitcoin — listed as ABTC — saw its shares lose nearly 50 percent in value within an hour of the market's opening. The company's price dropped to a low of $1.80 from its previous closing price of $3.58. It did rebound a bit throughout the day and closed at $2.19, marking a 38 percent daily decline, according to The Block.

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