Trump-Backed American Bitcoin Debuts Nasdaq After $220M Merger

American Bitcoin, a Bitcoin mining company co-founded by President Donald Trump's sons Eric Trump and Donald Trump Jr., has begun trading on the Nasdaq under the ticker ABTC following a merger with Gryphon Digital Mining. The company, which was formed through a merger with Hut 8 earlier this year, holds an 80% stake contributed by Hut 8 in exchange for its Bitcoin mining assets and raised $220 million in cash and Bitcoin from investors including the Winklevoss twins. American Bitcoin currently holds nearly 2,443 BTC and aims to become the largest Bitcoin treasury company, aspiring to surpass prominent holders by adopting a treasury model similar to Michael Saylor's strategy. Eric Trump has emphasized their ambition to become the "obvious name in crypto" and highlighted the significant effort invested in the company over the past year. This launch is part of the Trump family's broader crypto enterprise, which includes stablecoins, memecoins, NFTs, and other digital asset ventures that have generated substantial revenue. Their recent activities include the trading launch of World Liberty Financial tokens and large treasury deals totaling billions of dollars.