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Posted on 09/04/2025 8:56:36 PM PDT by SeekAndFind
NEW YORK, Sept 3 (Reuters) - A bitcoin company tied to President Donald Trump's two oldest sons more than doubled in value in its stock market debut on Wednesday, valuing the sons' stake at well over $1.5 billion as the first family grows their crypto business interests.
Shares in American Bitcoin Corp , a bitcoin miner, soared as high as $14.52 in its first day of trade on the Nasdaq, before pulling back to be up 16.5% at $8.04 by the end of the day.
The company is around 20% owned by Eric Trump and Donald Trump Jr, American Bitcoin Executive Chairman Asher Genoot said in a previous interview.
This values their stake in American Bitcoin at $1.5 billion at the close of trade, based on 908.6 million outstanding shares that American Bitcoin said it had in a September 2 stock exchange filing. The highest price struck by the stock on Wednesday valued their stake at $2.6 billion.
Crypto ventures have become an important driver of growth and potential windfall profits for the president’s family, where the family business - The Trump Organization - had in the past focused on building and running real estate projects and golf courses.
"Crypto is exploding," Eric Trump said in an interview on Wednesday. "I would be saying right now, the crypto space is at least 50% of what I'm doing."
The Trump family's forays into crypto have drawn criticisms from Democratic lawmakers and government ethics watchdogs about conflicts of interests. Critics say the Trump family is profiting from crypto at the same time when the president is easing regulations and enforcement on the industry.
Eric Trump, the second son of Trump, dismissed such criticisms on Wednesday as "insane."
"My father has absolutely nothing to do with this venture," Eric Trump said.
(Excerpt) Read more at reuters.com ...
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I need me some Crapto. I ain’t lost enough money this year.
Go for it, Eric and Don Jr. Rake that cash in now, before Midterms, when the Dems may flip the script, and find some way to declare this kind of investment illegal for the immediate family members of any sitting president.
Of course, if/when the Dems get one of their own back in the White House, any such ‘new rules’ will be quickly discarded.
Everyone knows, how that game is to be played.
RE: Dems may flip the script, and find some way to declare this kind of investment illegal for the immediate family members of any sitting president.
Exactly how are the Trump brothers supposed to do business while the Donald himself is in office?
Which type of business can they pursue or not pursue?
I see nothing whatsoever wrong with their investments, but I know that the petty Hive Mind of Dems means anything Trump likes or promotes is ‘bad’, and must be stopped or reversed, no matter what collateral damage should occur.
Rules are made up as they go along.
crypto is shady and it’s not a great look but at least it’s not illegal like all the crap the dems do
When the demonratcommieblmantifaterrorscumfeminaziguanopathicpedophilegoatrapers really start complaining about this just remind them of nazipelouzy.
Because all of her $$$ just comes from it’s congressional office payroll…
I rarely give fin advice because i’m greedy and wanted all the money to myself
skip all these bs 31 flavours of crypto and just stick with the original btc, you don’t want to be left holding the bag.
and for god sake do not invest in $djt
if you want to make money fast right now, look into call options on $OPEN, this stock is being pumped for the past few weeks
I declare my bowl of frosted flakes is worth $1.5B and offer to buy 200.000 acres of prime ranchland in Texas with it.
Vapor ‘money’.
Truly as valuable as the Emperor’s new clothes.
It’s ALL vapor money.
I’ll do it, if your flakes are Pumpkin Spice!
I just don’t understand the crypto bitcoin thing...at all. (?)
Meanwhile, what is this altogether? Sickening:
Since crypto is such a growth vehicle, I will wait until the Trump’s liquidate their RE holdings to pour into crypto before I make my move.
"Memeflakes: The Breakfast of Scammers."
I'm waiting for Nancy to signal the Green light.
Bitcoin, gold, & silver
I see these continuing to go up all through the next year.
Are you talking about the US dollar?
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