WNYUZ
No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
No Result
View All Result
WNYUZ
No Result
View All Result
Home News

Eric Trump-backed American Bitcoin to go public through all-stock merger

May 12, 2025
in News
Eric Trump-backed American Bitcoin to go public through all-stock merger
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

By Ateev Bhandari

(Reuters) -American Bitcoin, a new bitcoin miner backed by U.S. President Donald Trump‘s two eldest sons, said on Monday it will list on the Nasdaq via an all-stock merger with Gryphon Digital Mining.

Existing shareholders of American Bitcoin, including co-founder Eric Trump, his brother Donald Trump Jr. and crypto miner Hut 8, will retain 98% ownership of the newly formed entity.

The move is the latest in a series of crypto ventures by the Trump family, including a meme coin launched in January and World Liberty Financial, a crypto company partly owned by the president.

President Trump has pledged to make the U.S. a global leader in the crypto space, and has promised a lighter regulatory touch. However, he has drawn criticism from government ethics experts and political opponents over potential conflicts of interest.

Gryphon shares rose more than three-fold in premarket trading, while Hut 8 shares gained 13%. The deal is expected to close in the third quarter of 2025.

American Bitcoin, which launched in March, will retain Eric Trump as its chief strategy officer.

“Our vision for American Bitcoin is to create the most investable Bitcoin accumulation platform in the market,” he said in a statement.

Over the past few weeks, several corporations have launched new ventures or struck deals to become entities that accumulate bitcoin on their balance sheets.

These ventures let investors gain exposure to the crypto token without directly owning it, an approach pioneered by Strategy in 2020, and have soared in popularity among retail traders.

“Buying a stock is a very familiar investment to way more people than buying crypto on a platform,” Allan Marshall, CEO of e-commerce platform Upexi, said in an interview last week.

Since unveiling its plan last month to hold Solana as a treasury asset, Upexi’s shares have climbed more than four-fold.

(Reporting by Ateev Bhandari and Niket Nishant in Bengaluru)

The post Eric Trump-backed American Bitcoin to go public through all-stock merger appeared first on Reuters.

Tags: American Bitcoinbitcoin minerDonald TrumpEric TrumpGryphon Digital MiningReutersTrump familyWorld Liberty FinancialYahooYahoo Finance
Share196Tweet123Share
OPEC+ set for another oil hike as Saudi and Russia debate size, sources say
News

OPEC+ set for another oil hike as Saudi and Russia debate size, sources say

October 3, 2025

By Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW (Reuters) -Eight OPEC+ countries are likely to further raise oil output on Sunday ...

Read more
News

Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

October 3, 2025
News

UnitedHealth to exit Medicare Advantage plans in 109 US counties

October 3, 2025
News

Microsoft names CEO to run commercial business, Nadella to focus on tech

October 3, 2025
News

BOJ’s Ueda warns of global uncertainty, keep markets guessing on next hike

October 3, 2025
Lyft CEO says Bill Gates told him leaving Microsoft for Amazon when it was still a startup was ‘the stupidest decision I’ve ever heard anyone made’

Lyft CEO says Bill Gates told him leaving Microsoft for Amazon when it was still a startup was ‘the stupidest decision I’ve ever heard anyone made’

October 2, 2025
Gold slips from record peak after Fed Logan’s comments

Gold slips from record peak after Fed Logan’s comments

October 2, 2025
White House Floats New Rules For Colleges to Get Funding Edge

White House Floats New Rules For Colleges to Get Funding Edge

October 2, 2025

© 2025 WNyuz.com

No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech

© 2025 WNyuz.com