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The stock price of American Bitcoin, supported by the Trump family, fell by 35% due to the unlocking of restricted shares.
On December 3, according to Bloomberg, the cryptocurrency mining company American Bitcoin Corp., co-founded by Eric Trump, saw its stock plummet significantly on Tuesday due to the expiration of lock-up shares. After opening, the company's stock price fell by over 50% in less than 30 minutes, triggering multiple trading halts. As of 2:30 PM New York time, the decline in stock price had narrowed, closing at $2.33, down 35% from the previous trading day. The company held a market opening ceremony on Nasdaq on September 16.