The Trump family’s foray into the cryptocurrency space continues to gain momentum, with two significant developments illustrating their commitment this week.
On Wednesday, American Bitcoin, a company associated with Eric Trump and Donald Trump Jr., made its debut on the Nasdaq exchange under the ticker “ABTC.” This move marks a pivotal moment for the company, which recently merged with Gryphon Digital Mining—a firm that previously traded under “GRYP.” With the merger, American Bitcoin aims to establish itself as “the world’s largest, most efficient pure-play Bitcoin miner.” As of Wednesday afternoon, shares were trading at approximately $10, positioning the company’s market valuation at around $9 billion.
In addition to the exchange listing, the family’s venture, World Liberty Financial, launched its token, WLFI, which began trading over the holiday weekend. According to estimates from The Wall Street Journal, the Trump family’s stake in the token has reached a valuation of about $6 billion, based on its peak price of around 30 cents.
This shift in the Trump family’s stance toward cryptocurrency is noteworthy, especially given Donald Trump’s previous anti-crypto sentiment during his first presidential term. However, his perspective appears to have changed during his second re-election campaign as he adopted a more pro-crypto position. The Trump Media & Technology Group (DJT) has also engaged in crypto investments, mirroring strategies employed by notable figures like Michael Saylor, focusing on acquiring and holding digital assets.
Additionally, the family has been involved in the launch of a memecoin, known as TRUMPUSD, which holds an estimated market value of $1.7 billion, according to research by Messari.
Before its recent transformation, American Bitcoin operated as American Data Centers, a company originally focused on developing AI infrastructure in the U.S. This pivot to cryptocurrency signifies not only a business shift but also reflects the evolving landscape of digital assets and the rising involvement of high-profile figures in the sector.
