Eric Trump Brands Forbes ‘Chinese Propaganda’ Over American Bitcoin Hit Piece

Eric Trump has accused Forbes of being 'Chinese propaganda' following a critical report by the magazine that alleged his Bitcoin venture, American Bitcoin (ABTC), preys on MAGA-minded investors and has caused approximately $500 million in retail shareholder losses. The report claimed ABTC operates as an arbitrage vehicle, selling inflated shares to fund Bitcoin purchases, and that its market cap has plummeted by 92% since its peak. Forbes also disputed Eric Trump's cost-per-coin figures. In response, Trump defended ABTC's operational statistics, including its capacity, miner count, and revenue growth, stating the company holds over 7,000 Bitcoin and is the 16th largest public Bitcoin holder. He did not directly address the retail losses mentioned in the Forbes article.

(Source：BeInCrypto)