As per Coindesk, American Bitcoin Corp. (ABTC), a bitcoin mining and treasury firm founded by Eric Trump and Donald Trump Jr., saw its shares plunge as much as 50% on Tuesday, despite bitcoin rising above $91,000. Trading volume surged to 55 million shares, far above its daily average of 3 million, indicating heavy selling pressure. Hut 8 (HUT), an 80% owner of ABTC, fell 12%. The drop occurred despite a broader rally in crypto-related stocks. SEC filings show a 180-day lockup period for most ABTC holders, restricting sales until March 3, 2026. ABTC's stock, which traded as high as $14 in September 2025, is now barely above $2.
Trump-Linked American Bitcoin Plunges 40% on Heavy Volume, Hut 8 Drops 12%
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