Amidst a significant downturn in the cryptocurrency market, American Bitcoin, co-founded by Eric and Donald Trump Jr., has witnessed a dramatic plunge in its stock price. Following the unlocking of shares for sale, the company’s stock, listed as ABTC, dropped nearly 50% shortly after the market opened on Tuesday, falling from a previous close of $3.58 to as low as $1.80 within an hour. It partially recovered throughout the day to close at $2.19, marking an overall decline of 38%.
Eric Trump addressed the sudden volatility in a post on X, indicating that the fluctuations were due to early investors cashing in on their profits for the first time following the unlocking of pre-merger private placement shares. He reassured investors by stating he would not sell any of his shares, claiming the company’s fundamentals are “virtually unmatched.” This development comes after American Bitcoin’s merger with Gryphon Digital Mining in September, enabling it to be traded on the Nasdaq.
However, the stock’s performance has been troubling, given that ABTC is now down by about 80% from its peak of $9.40 just a month prior. Matt Prusak, president of American Bitcoin, anticipated continued volatility in the week’s trading as shares seek to stabilize. He noted, “Personally, I’ve lived through brutal drawdowns before,” implying a sense of resilience amidst market turmoil.
The Trump family remains involved in various digital investments beyond American Bitcoin, including other cryptocurrencies and projects like World Liberty Financial, co-founded by former President Donald Trump. Critics have raised concerns regarding these ventures, suggesting they serve as conduits for the wealthy to exert influence in Washington without transparency. Democratic Representative Jamie Raskin characterized Trump’s “pro-crypto agenda” as a means of self-enrichment, linking it to opportunities for opaque foreign influence.
In a House Judiciary Committee report from November, it was claimed that Trump has leveraged his office for personal and family gain, with crypto holdings potentially amounting to $11.6 billion. The report also indicated substantial earnings of over $800 million from crypto asset sales in the first half of 2025 alone.
This scrutiny has been met with public opposition. In May, protesters demonstrated against perceived influence-peddling outside Trump National Golf Course in Virginia, coinciding with a high-priced dinner attended by top cryptocurrency holders who had paid over $394 million for a spot alongside the former president.
Despite these ventures, the Trump family’s financial status has taken a significant hit, reportedly declining by about $1 billion in just a few months. According to Bloomberg News, their net worth has fallen from $7.7 billion in September to around $6.7 billion today, directly correlating with the widespread crash in cryptocurrency values that has erased more than $1 trillion globally.
As the cryptocurrency landscape continues to fluctuate, both the Trump family and its enterprises find themselves navigating a challenging financial reality.
