American Bitcoin, founded in the U.S. and partly owned by Donald Trump's sons, is preparing for its Nasdaq debut in September.
Merger with Gryphon Digital Mining
American Bitcoin is actively completing the merger process with Gryphon Digital Mining, which is aimed at expediting the company's stock market entry. Hut 8's CEO, Asher Genoot, stated that the merger will be finalized soon, and the company will begin trading on the exchange in early September under the ticker symbol ABTC, without an initial public offering.
Investors in American Bitcoin
The investor base of the company includes prominent figures from the crypto industry, such as Gemini exchange founders Cameron and Tyler Winklevoss. Following the merger, Eric Trump, Donald Trump Jr., and Hut 8 will collectively own 98% of the company.
Political Context and Company Independence
While American Bitcoin's plans coincide with heightened crypto regulation under the Trump administration, allegations of political influence and conflicts of interest have emerged. However, Genoot emphasized that the company is a completely independent commercial enterprise, with Eric Trump involved only in strategic areas.
Despite its ties to the Trump family, American Bitcoin aims to establish itself as an independent player in the cryptocurrency market, attracting both domestic and international investors.
