Trump-backed American Bitcoin Corp stock plunges almost 40% as private placement shares unlock
Crypto Briefing
American Bitcoin Corp shares dropped nearly 40% following the expiration of a lock-up period for early investors.Summary
Shares of American Bitcoin Corp (ABTC), a Bitcoin mining and treasury company associated with the Trump family, plummeted by about 40% by market close. This sharp decline occurred because a lock-up period expired, allowing early investors to sell their private placement shares for the first time. Eric Trump acknowledged that this unlock could introduce volatility but maintained that the company's fundamentals remain strong, stating he personally is not selling his ABTC shares. American Bitcoin Corp focuses on Bitcoin mining and managing its treasury holdings.
(Source：Crypto Briefing)