American Bitcoin Corporation, a bitcoin treasury and mining company backed by United Statees President Donald Trump’s two eldest sons — Eric Trump and Donald Trump Junior — has begun trading on the Nasdaq stock market today, AP reported.
The listing comes after the Trump family backed crypto venture merged with Gryphon Digital Mining, as per the AP report.
“Our Nasdaq debut marks a historic milestone in bringing bitcoin into the core of US capital markets,” Eric Trump, co-founder and chief strategy officer of American Bitcoin, said in a statement.
Trump family sees crypto stock zoom
At time of writing, the stock was at $8.96 apiece, up $2.06 or 29.86 per cent since market opened. According to a Bloomberg report, the stock more than doubled to $14.52 in early trading.
The Trumps would be among the biggest winners, as per the BB report, which noted that Eric and Donald Trump Jr are among a group that owns 98 per cent of the newly listed company — with the former holding 9.3 per cent stake, as per a July securities filing.
American Bitcoin Corp in a statement said it will accumulate Bitcoin using machinery in New York, Alberta and Texas, provided by another crypto company called Hut 8 Corp.
(With inputs from Agencies)
(This is a breaking story, more updates coming…)
