Eric Trump’s Cryptocurrency Firm Plummets Nearly 40% Amid Crypto Market Downturn
Shares of American Bitcoin Corp (ABTC), the cryptocurrency mining company associated with Eric Trump, experienced a sharp decline on Tuesday, tumbling nearly 40% within less than 30 minutes of trading. The steep sell-off erased roughly $1 billion from the firm’s market value, in a dramatic reflection of the broader challenges facing the digital asset sector, often referred to as the emerging “crypto winter.”
Rapid Decline in Share Price
American Bitcoin’s stock price fell from a previous closing of $2.39 to as low as $1.90, triggering multiple trading halts throughout the session. The price slid precipitously from a peak of $9.31 hit in early September, marking a 78% drop to current levels. Trading volume surged to almost 40 times the daily average, underscoring the intensity of investor activity.
Context: A Widening Crypto Sell-Off
The downturn in American Bitcoin’s shares has closely mirrored the wider collapse in cryptocurrency markets. Since early October, Bitcoin’s value has dropped by over 30%, falling from a high of approximately $126,272 to around $92,133 per bitcoin. Analysts at Deutsche Bank highlighted last week that the global crypto market has lost approximately $1 trillion in value since the peak, with many crypto-linked companies experiencing severe price corrections.
Eric Trump’s Response and Outlook
Eric Trump, the former president’s second son and president of American Bitcoin Corp, addressed the sell-off on social media platform X, attributing the volatility to investors taking profits for the first time. He reaffirmed his commitment to the company and industry, stating, “I’m holding all my @ABTC shares — I’m 100% committed to leading the industry.”
Despite the sharp decline, Eric Trump expressed strong confidence in cryptocurrency’s future, describing the current market dip as “a great buying opportunity.” He emphasized that investors who embrace the volatility stand to benefit in the long term, calling the firm “one of the greatest crypto companies anywhere on earth.”
Company Performance and Broader Trump Crypto Ventures
American Bitcoin was formed from the restructuring of Hut 8 Corp earlier in 2025. Recent financial disclosures revealed the company reported a net income of $3.5 million on $64.2 million in revenue for the third quarter, indicating operational profitability despite the market turbulence.
This mining operation is part of a broader Trump family involvement in cryptocurrencies dating back to 2022 with the launch of an NFT project. In 2024, the family established World Liberty Financial, which issued its own digital token, $WLFI. In 2025, the Trump-branded cryptocurrency, $Trump, was introduced, expanding their footprint in the digital asset domain. However, these ventures have also seen value declines; for example, the WLFI token fell from 26 cents in early September to about 16 cents as of late November.
Impact on Trump Family Fortune
The volatility in crypto assets has had significant implications for the Trump family’s estimated wealth. Bloomberg’s September valuation placed the family fortune at $7.7 billion, but ongoing losses linked to cryptocurrencies and related ventures have contributed to a reduction down to $6.7 billion.
Political and Market Background
Donald Trump’s relationship with cryptocurrency has evolved markedly over recent years. Previously skeptical, he reversed his stance during his 2024 presidential campaign and became one of the first major U.S. candidates to accept campaign donations in cryptocurrency. Furthermore, his administration issued an executive order aimed at supporting digital asset innovation while fostering regulatory frameworks. Crypto-friendly figures have been appointed to key regulatory positions under his leadership.
Additional Trump-Affiliated Crypto Ventures Struggle
Other Trump-related entities have not been immune to the crypto downturn. Shares in Trump Media & Technology Group (TMTG), which began acquiring significant bitcoin holdings in 2025, have also dropped sharply from around $42 in early February to close to $11 late in the year.
Looking Ahead
Despite near-term market challenges, Eric Trump remains bullish on cryptocurrency’s potential. He reiterated his confidence to Bloomberg, emphasizing the modernization of the financial system through digital assets and his belief that those who invest during these dips will ultimately succeed.
As the cryptocurrency market grapples with volatility and regulatory uncertainties, the fate of American Bitcoin Corp and related Trump ventures will be closely watched by investors and industry observers alike.