Shares of American Bitcoin, a cryptocurrency mining company backed by the Trump family, plummeted by half in 30 minutes.
according to Bloomberg, the sharp correction in Bitcoin prices over the past month is impacting the speculative sector of the cryptocurrency market.
The latest victim is American Bitcoin Corp (ABTC). This crypto mining company, co-founded by Trump’s second son Eric Trump, saw its stock price evaporate by more than half in less than 30 minutes on Tuesday, despite multiple trading halts due to extreme volatility. The stock fell as much as 51% at one point.
According to market data, American Bitcoin’s stock price is currently reported at $2.07, down 42.18%.
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