Bitcoin News Today: Eric Trump to Hold $367M Stake in Gryphon Post-Merger with American Bitcoin

Eric Trump, the son of former U.S. President Donald Trump, is set to hold a $367 million equity stake in Gryphon Digital Mining Inc. following a merger with American Bitcoin Corp., a company he co-founded [1]. The deal, disclosed in a recent securities filing, involves the exchange of Eric Trump’s American Bitcoin shares for 367 million shares in Gryphon, with the combined entity expected to list on the Nasdaq soon. At current market values, the Gryphon shares are valued at approximately $1 per share, giving Trump a significant stake in the growing crypto-mining sector [1].

The newly formed company will retain the American Bitcoin name and is expected to leverage the established mining operations of Miami-based Hut 8 Corp., which is merging with Trump’s entity. Hut 8 emphasized in a statement that the deal would combine its operational expertise with Trump’s “commercial acumen and commitment to decentralized financial systems” [1]. The merger reflects a broader trend of traditional investors and politically connected individuals entering the cryptocurrency space, which could influence market dynamics and investor confidence [1].

Eric Trump serves as the chief strategy officer for American Bitcoin, a role that includes a three-year advisory agreement but no financial compensation [1]. His involvement marks a notable expansion of the Trump family’s presence in digital assets, shifting from traditional real estate and business ventures to a high-profile position in the crypto industry [1]. At a major Bitcoin conference in May, Eric Trump stated that his family is “100%” behind the industry and expressed excitement about its future [1].

The White House has addressed potential conflicts of interest, with press secretary Karoline Leavitt stating that President Trump and his family “have never engaged, and will never engage, in conflicts of interest” [1]. Meanwhile, Bitcoin’s price remains at $117,967.29, with a market capitalization of $2.35 trillion and a dominance rate of 60.89%. Over the past 90 days, 24-hour trading volume has increased by 21.36%, indicating strong institutional and retail interest [1].

The merger could drive technological advancements in Bitcoin mining efficiency, according to the Coincu research team, potentially attracting further institutional investment and offering strategic advantages in crypto infrastructure [1]. This development also highlights the increasing convergence between political influence and the cryptocurrency sector. While the Trump family’s entry into the space is unprecedented among political families, such high-profile moves can temporarily affect market sentiment [1].

Source:

[1] Eric Trump to Hold $367M Stake in Crypto Firm Merger (https://coinmarketcap.com/community/articles/688b7eec680c444f8ca7e96b/)