TLDR
- Eric and Donald Trump Jr.’s American Bitcoin saw a 39% rise in its first trading day.
- Ethics concerns grow over the Trump family’s role in the crypto industry.
- American Bitcoin raised $2.1B in equity offering to expand bitcoin holdings.
- The company’s debut comes amid President Trump’s pro-crypto regulatory stance.
American Bitcoin, a company co-founded by Eric Trump and Donald Trump Jr., debuted on the Nasdaq on September 3, 2025, under the ticker symbol “ABTC.” Shares surged as much as 39% in early trading, reaching $9.60, before settling at $8.04 by the end of the day. This marks a significant milestone for the Trump family in their ongoing foray into the cryptocurrency industry.
The company, founded in the spring of 2025, aims to accumulate bitcoin through mining operations and opportunistic purchases of the cryptocurrency. By owning shares of American Bitcoin, investors are betting on the company’s ability to grow its bitcoin holdings more rapidly than its competitors. The company’s strategy mirrors that of high-profile firms like Marathon Digital, which combine mining with a corporate treasury approach to accumulate digital assets.
Rising Ethics Concerns Amid Family Business Ventures
American Bitcoin’s successful debut has brought the Trump family’s involvement in cryptocurrency back into the spotlight, sparking new ethical concerns. Critics argue that the Trump family’s growing influence in the sector raises questions about conflicts of interest. Since President Trump took office, his family has seen increasing financial success in crypto, as regulatory changes, many driven by the president’s policies, have benefited their businesses.
Virginia Canter, the chief counsel for the Democracy Defenders Action group, expressed concerns about the potential for conflicts of interest. “There’s no question there’s a conflict of interest here,” she said, emphasizing how the president’s influence over crypto regulations could create an uneven playing field for competitors.
Senator Elizabeth Warren also weighed in, labeling the debut of American Bitcoin’s stock as “corruption, plain and simple.” The senator’s statement highlights the growing concerns over the Trump family’s financial dealings in the crypto space, particularly as the president continues to champion deregulation in the sector.
American Bitcoin Expansion Plans
American Bitcoin’s debut is just the latest in a series of lucrative crypto ventures for the Trump family. In addition to American Bitcoin, the Trump family has seen substantial profits from their other crypto-related endeavors. The launch of World Liberty Financial, a crypto firm co-founded by the Trumps, has created as much as $5 billion in paper wealth for the family and insiders.
Similarly, Trump Media and Technology Group has been involved in accumulating significant holdings in digital assets like Bitcoin and the Cronos token, boosting their market value.
At the time of its merger with Gryphon Digital Mining, American Bitcoin held 2,443 bitcoins, worth approximately $160 million. The company is now set to raise up to $2.1 billion through an at-the-market offering to expand its bitcoin holdings further. This equity raise, along with the company’s rapid growth, highlights the Trump family’s significant financial footprint in the cryptocurrency space.
