Significant Drop in Eric Trump’s Crypto Mining Business

On Tuesday, shares of Eric Trump’s crypto mining venture experienced a dramatic decline, plummeting nearly 40% in under 30 minutes.

Market Turmoil and Trading Halts

The sharp drop in American Bitcoin Corp led to multiple trading halts, coinciding with a broader decline in cryptocurrency values, which some analysts are labeling as the start of a “crypto winter.” Since the beginning of October, Bitcoin’s value has significantly decreased, reversing a year’s worth of gains.

Stock Performance of American Bitcoin Corp

American Bitcoin shares (traded as ABTC) fell to $1.90, down from a previous close of $2.39. Earlier, the stock had dropped to similar levels in May, reached a peak of $9.31 on September 9, and has since fallen 78% to its current price.

Impact on Market Value

As a result of this downturn, the company’s market value decreased by approximately $1 billion, closing at a 38.8% loss. The trading volume of the stock surged to nearly 40 times its average, according to Bloomberg.

Eric Trump’s Reaction

Eric Trump stated on X that this sell-off stemmed from investors opting to “cash in on their profits for the first time,” which contributed to ongoing volatility. He affirmed his commitment to the company by declaring, “I’m holding all my @ABTC shares – I’m 100% committed to leading the industry.”

Broader Crypto Market Decline

The plunge in ABTC’s share value aligns with a general sell-off in the digital asset market. Bitcoin has fallen over 30% from its October 6 peak of $126,272 to $92,133. Analysts at Deutsche Bank have noted that the crypto market has lost around $1 trillion in value since that time.

Trump Family’s Crypto Ventures

The Trump family’s involvement in cryptocurrency began in 2022 with an NFT launch. They established World Liberty Financial in 2024 and introduced a family-branded cryptocurrency called $Trump in 2025. Unfortunately, other Trump-affiliated crypto initiatives, such as WLFI, have also seen a considerable decrease in value.

Shifting Family Wealth

The Trump family’s wealth has significantly profited from these ventures, with estimates indicating a drop from $7.7 billion in September to $6.7 billion as crypto values declined. Despite the downturn, Eric Trump expressed optimism about the future, claiming it is a good time to invest in cryptocurrency.