Imagine watching your investment lose more than half its value in just 30 minutes. That’s exactly what happened to Eric Trump’s cryptocurrency firm, American Bitcoin Corp, in a jaw-dropping market plunge. But here’s where it gets controversial: Is this the beginning of a prolonged 'crypto winter,' or just a temporary dip in a volatile market? Let’s dive into the details and explore what this means for the Trump family’s growing crypto empire.
On Tuesday, shares of American Bitcoin Corp (ABTC) plummeted from $2.39 to $1.90 in less than half an hour, triggering multiple trading halts. This dramatic drop came amid a broader sell-off in the digital asset market, where Bitcoin itself has fallen over 30% since its October peak of $126,272. Analysts at Deutsche Bank estimate that a staggering $1 trillion has vanished from the global crypto market since then. And this is the part most people miss: While ABTC’s decline is striking, it’s just one piece of a larger puzzle involving the Trump family’s ambitious crypto ventures.
Eric Trump, the second son of former President Donald Trump, has been vocal about his confidence in the Texas-based crypto miner, claiming it handles 2% of the world’s Bitcoin supply. ‘I truly believe we are building one of the greatest crypto companies anywhere on earth,’ he declared last month on X, echoing his father’s bold rhetoric. Yet, the company’s stock has been on a rollercoaster ride, peaking at $9.31 in September before crashing to its current value—a staggering 78% decline.
American Bitcoin Corp, spun off from Hut 8 Corp earlier this year, reported a third-quarter net income of $3.5 million on revenue of $64.2 million in November, according to Bloomberg. But its struggles mirror those of other Trump-affiliated crypto projects, such as World Liberty Financial’s token (WLFI), which has dropped from 26 cents in September to just 16 cents today. Even the Trump family’s social media company, Trump Media & Technology Group (TMTG), which began acquiring Bitcoin this year, has seen its shares tumble from $42 in February to around $11.
Here’s the bold question: Is the Trump family’s crypto fortune at risk, or is this just a buying opportunity, as Eric Trump insists? Despite the market downturn, Eric remains optimistic, telling Bloomberg, ‘People who buy dips and embrace volatility will be the ultimate winners. I have never been more bullish on the future of cryptocurrency.’ But with the family’s net worth dropping from $7.7 billion in September to $6.7 billion due to crypto losses, the stakes are undeniably high.
The Trump family’s crypto journey began in 2022 with the launch of an NFT collection, followed by the creation of World Liberty Financial in 2024 and the $TRUMP cryptocurrency in 2025. As president, Donald Trump shifted from being a crypto skeptic—once calling it ‘based on thin air’—to signing an executive order supporting the industry and accepting crypto donations during his second presidential campaign. But here’s the counterpoint: Could this market volatility expose the risks of tying political and financial fortunes to such a speculative asset class?
As the crypto market continues to fluctuate, one thing is clear: the Trump family’s ventures are both a reflection of their ambition and a test of their resilience. What do you think? Is this the end of crypto’s golden era, or just a bump in the road? Let us know in the comments—we’d love to hear your take on this controversial and ever-evolving story.
