Trump-Backed ’American Bitcoin’ Makes Wall Street Debut—Because What’s a 2025 Bull Market Without Political Crypto Theater?

The so-called ’American Bitcoin’ project—endorsed by former President Trump and teased since 2023—finally hits public markets today. Traders brace for volatility as the MAGA-branded digital asset collides with institutional scrutiny.

Subheader: Patriotism Meets Ponemonics?

With a launch valuation rumored at $5B, critics note the timing coincides suspiciously with election-cycle fundraising. ’Nothing says fiscal responsibility like a politician-backed speculative asset,’ quipped one hedge fund manager off-record.

Subheader: Regulatory Roulette

The SEC’s muted response suggests either calculated restraint or exhaustion—after all, this drops just weeks after the agency greenlit spot Ethereum ETFs. Market makers report frantic positioning by both crypto true believers and short-term political traders.

Closing Thought: Whether this becomes a legitimate on-ramp for conservative crypto adoption or another 2025 bubble relic may depend on how quickly Trump stops posting about it on Truth Social.

American Bitcoin Corp., the Bitcoin mining company backed by Eric Trump, has announced it will go public through a merger with Gryphon Digital Mining, a company already trading on the Nasdaq. Once the deal is complete, the combined company will operate under the American Bitcoin name and trade with the ticker “ABTC.”

“Our vision for American bitcoin is to create the most investable Bitcoin accumulation platform in the market,” said Eric Trump, Co-founder and Chief Strategy Officer of American Bitcoin.

Gryphon is a U.S.-based company focused on entering both bitcoin mining and AI. If all goes as planned, the transaction could be finalized by Q3 2025, with American Bitcoin’s current shareholders expected to own around 98% of the combined company. The leadership team from American Bitcoin will continue to lead the business after the merger.

The latest move shows how Trump’s family is increasingly leaning towards crypto. After trying with projects like World Liberty Financial and memecoins like TRUMP and MELANIA, they have now turned to large-scale Bitcoin mining and building strategic Bitcoin reserves.

Hut 8 Corp., which launched American Bitcoin earlier this year in partnership with Eric Trump, will also benefit from the merger. Their goal is to build the “world’s largest, most efficient pure-play Bitcoin miner”, while also building a strong Strategic Bitcoin Reserve. 

CEO of Hut 8, Asher Genoot, believes that the MOVE will unlock capital for further growth, while keeping the company’s finances strong, and will also give investors a chance to profit from Bitcoin’s long-term potential.

Earlier this year, Dominari Holdings announced a new project called American Data Centers to create computing systems for the AI industry. Eric Trump and Donald Trump Jr. are also investors in the project, and Eric is also on the advisory board of Dominari Holdings.

Although Trump has promised to make the U.S. the crypto capital of the planet, criticisms are increasing as Trump is getting more involved in crypto, which could lead to conflicts of interest, regulatory challenges, and ethical concerns.