Trump-Backed American Bitcoin Wins Shareholder Approval for Nasdaq Merger

American Bitcoin, a Bitcoin mining company backed by President Donald Trump's sons Eric Trump and Donald Trump Jr., is preparing to list on the Nasdaq through a merger with Gryphon Digital Mining. The all-stock merger, which has received final shareholder approval, will allow the combined entity to trade under the ticker ABTC starting in early September, with Eric Trump, Donald Trump Jr., and Hut 8 collectively owning 98% of the company. This strategic move bypasses the traditional IPO process, offering financing advantages and immediate access to public markets. American Bitcoin aims to expand globally, exploring acquisitions outside the U.S., particularly in Hong Kong and Japan, to provide broader investor access to publicly listed Bitcoin assets. The Nasdaq listing is expected to enhance the company's visibility, credibility, and capital access, positioning it as a politically prominent player in the Bitcoin mining sector amid growing corporate Bitcoin treasury accumulation. The Trump family's involvement in multiple crypto ventures has raised concerns among U.S. lawmakers about potential conflicts of interest given the President's policy influence.