In this news:
A bitcoin mining company tied to the US President Donald Trump family is set to go public, further deepening the family’s footprint in the cryptocurrency world. American Bitcoin Corporation, a newly launched venture partially owned by Eric Trump and Donald Trump Jr., will become a publicly traded entity following its all-stock merger with Gryphon Digital Mining, expected to close by Q3 2025. Once finalised, the merged firm will trade on the Nasdaq under the ticker ABTC, according to an investor presentation on its website. The company is majority-owned by Hut 8 Corp., a prominent player in the crypto space, and is being positioned as a “pure-play” Bitcoin mining and accumulation firm focused on building large-scale infrastructure. This latest move showcases the Trump family’s growing ambitions in the crypto sector. Previous efforts have included ventures like World Liberty Financial and meme coins such as $TRUMP and $MELANIA. Now, the focus shifts to industrial-scale mining and strategic Bitcoin reserve building. Eric Trump, who will continue to serve as Chief Strategic Officer, described the company’s mission as creating “the most investable Bitcoin accumulation platform in the market” and becoming “the world’s largest pure-play Bitcoin mining operation.” The listing is also expected to benefit Hut 8, with its CEO Asher Gennot saying it will unlock capital for expansion while keeping the firm’s balance sheet intact. Once the merger is complete, existing shareholders — including the Trump brothers — are projected to retain a 98% ownership stake in the company. While the venture marks a bold step into crypto infrastructure, it also raises fresh concerns over potential conflicts of interest, especially with Donald Trump’s continued political ambitions. Critics have warned that the family’s increasing involvement in crypto could lead to regulatory challenges and ethical questions for the Trump regime. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Budget 2025, Companies,Markets, Business Economy and around the world.
.png)
