Background on American Bitcoin and Its Investors
American Bitcoin, a startup providing energy and IT support, is set to go public on the New York Stock Exchange this fall. The company has Donald Trump’s two eldest sons, Eric and Donald Jr., as significant investors. Hut 8, American Bitcoin’s parent company, announced the upcoming initial public offering (IPO) in a press release on Monday.
Merger Details and Expected Listing
American Bitcoin will merge with Gryphon Digital Mining, a Wall Street-listed firm specializing in “mining,” the process of performing extensive calculations to produce digital currency units. The combined entity is expected to trade on the Nasdaq under the ticker ‘ABTC’ starting in Q3 2025, according to Hut 8.
Post-merger, current American Bitcoin shareholders will own approximately 98% of the new entity.
Trump Family’s Growing Ties with Cryptocurrency Industry
The connection between the Trump family and the cryptocurrency sector is strengthening. In September, Eric and Donald Trump Jr. partnered with their father on World Liberty Financial, a cryptocurrency exchange platform. This company launched USD1, a dollar-pegged cryptocurrency, in March.
Since taking office on January 20, Donald Trump has pursued several initiatives to relax cryptocurrency regulations.
Key Questions and Answers
- What is American Bitcoin? American Bitcoin is a startup offering energy and IT support services. It will go public on the New York Stock Exchange, merging with Gryphon Digital Mining.
- Who are the investors in American Bitcoin? The significant investors include Eric Trump and Donald Trump Jr., the two eldest sons of former U.S. President Donald Trump.
- What is the expected listing symbol and timeline? The merged entity will trade on Nasdaq under the ticker ‘ABTC’ starting in Q3 2025.
- What are the Trump family’s other cryptocurrency-related ventures? The Trump family has partnered with World Liberty Financial, a cryptocurrency exchange platform, and launched USD1, a dollar-pegged cryptocurrency.
- What regulatory initiatives has Donald Trump pursued regarding cryptocurrencies? Since taking office, Donald Trump has supported several initiatives aimed at relaxing cryptocurrency regulations.
