American Bitcoin Corp shares of Eric Trump plunge over 50% in 30 minutes amid sharp crypto market crash
Shares of American Bitcoin Corp (ABTC), owned by Eric Trump — son of the former U.S. president — suffered a dramatic collapse on Tuesday, dropping more than 50% in just half an hour, triggering several automatic trading halts.
The plunge coincided with a steep sell-off across the cryptocurrency market, which analysts are already calling the start of a new “crypto winter.” According to The Guardian, ABTC shares fell to $1.90, down from the previous session’s close of $2.39. By comparison, on September 9 the stock traded at $9.31, meaning the company has lost 78% of its market value since then.
The stock collapse came amid a massive liquidation of digital assets: since early October, Bitcoin has fallen more than 30%, sliding from its peak of $126,272 to $92,133. Analysts at Deutsche Bank estimate that $1 trillion in market capitalization has been wiped out.
American Bitcoin was created in 2025 on the basis of the mining company Hut 8. In the third quarter, it reported $3.5 million in profit on $64.2 million in revenue.
Despite the crash, Eric Trump remains upbeat. In November, he claimed the company “mines 2% of the world’s Bitcoin” and is “one of the leading companies globally.” In comments to Bloomberg he added:
“This is a great buying moment. Those who invest during a downturn will come out ahead.”
Losses across the Trump family’s crypto holdings
The downturn affected far more than ABTC:
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The WLFI (World Liberty Financial) token fell from 26 cents to 16 cents.
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The Trump family’s overall net worth dropped from $7.7 billion to $6.7 billion.
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TMTG (Trump Media & Technology Group) — which also invests in Bitcoin — fell to $11 (down from $42 in February).
The Trump family has been aggressively promoting cryptocurrency projects since 2022 — from launching NFTs and the $TRUMP token to creating its own fintech ventures.
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