Eric Trump, the second son of former U.S. President Donald Trump, has recently intensified his efforts in the cryptocurrency industry, which has become clear following the latest merger of companies.
Merger of Gryphon Digital Mining and American Bitcoin Corp.
According to publicly released securities filings, Eric Trump is set to become a holder of 367 million shares in Gryphon Digital Mining as part of a merger with American Bitcoin Corp., which he co-founded in March. This alliance suggests an equity valuation of $1 per share, positioning Trump's stake around $367 million.
Eric Trump's Investment in Bitcoin
Recent data indicates that the value of American Bitcoin shares during a private sale was set at 25 cents per share, potentially lowering Eric Trump's stake valuation to approximately $92 million. However, the exact amount paid by Eric and his brother Donald Trump Jr. for their initial investments was not disclosed.
White House's Reaction to Potential Conflicts of Interest
White House Press Secretary Karoline Leavitt dismissed rumors of potential conflicts of interest concerning the Trump's family's involvement in crypto. "Neither the President nor his family has ever engaged, or will ever engage, in conflicts of interest," she stated. Additionally, in May, Eric Trump expressed full support for the crypto industry, emphasizing the President's backing.
With Eric Trump's active participation in the crypto industry, his potential stake evaluation and influence on Bitcoin could significantly impact the market and raise interest in new investment opportunities.
