In this news, we observe the impressive surge of the Trump-endorsed digital currency company, American Bitcoin, during its Nasdaq debut, reaching a remarkable 100% increase in value.
In a significant move for the cryptocurrency industry, American Bitcoin Corp, a firm co-founded by Eric Trump, made its Nasdaq debut this week. The company, which operates a hybrid model combining bitcoin mining and holding the digital asset as a treasury asset, soared 102% on its first day of trading.
American Bitcoin Corp's listing is the result of a merger with Gryphon Digital Mining. The company began trading under the ticker "ABTC" and reached an intraday high of $14, settling at $8.04 at market close on Wednesday.
Eric Trump's 7.5% stake in American Bitcoin Corp was valued at approximately $548 million after the firm's listing. The company has accumulated over 2,400 BTC, worth around $269 million at current prices.
Interestingly, earlier this week, the Trump family's wealth extended by $5 billion due to the trading debut of WLFI, the token linked to the family's DeFi project World Liberty Financial.
However, it's worth noting that the specific company associated with Donald Trump Jr. and Eric Trump that made its Nasdaq debut on Thursday is not explicitly named in the provided search results.
The listing of American Bitcoin Corp was featured in the Unchained Daily newsletter. Despite the lack of prior context, the firm's successful Nasdaq debut marks a significant step forward for the cryptocurrency industry and the Trump family's foray into the digital asset space.
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