ByKirk Ogunrinde,
Contributor.
American Bitcoin’s 50% stock crash Tuesday is the latest of many projects tied to the Trump family that have disproportionately suffered in the wake of a wider downturn in the crypto market.
American Bitcoin, a crypto mining firm where Eric Trump serves as co-founder and chief strategy officer, dropped more than 50% in a shock event Tuesday that collapsed the share price only minutes after markets opened.
The drop came as a lockup on restricted shares lifted, allowing early investors to sell their stakes in the company after Dec 2.
