American Bitcoin Sinks 50% in Minutes as Crypto Sell-Off Deepens

American Bitcoin’s ABTC stock lost more than half its market value in just 30 minutes at one point last week, triggering multiple trading halts as the miner — co-founded by Eric Trump — was dragged down with the rest of the crypto market. Bitcoin fell more than 30% from its October peak, slamming every risky crypto bet still standing, Jai Hamid reported for Cryptopolitan.

The market was punishing anything tied to crypto — including the Trumps.

The wipeout followed Monday’s massive liquidation event, during which nearly $1 billion in leveraged crypto positions evaporated. By Tuesday, broader markets had briefly stabilized — but that meant nothing for American Bitcoin.

The damage was done.

The company, launched earlier this year as a spinout from Hut 8 Corp., generated early hype. Traders pushed the stock up quickly, but since its September peak the miner has now lost more than 78% of its value.

American Bitcoin reported a third-quarter net income of $3.5 million on revenue of $64.2 million. But earnings didn’t matter: the market was punishing anything tied to crypto — including the Trumps.

Donald Trump Jr., who holds shares in American Bitcoin, has also seen steep losses.

The family’s other crypto ventures are suffering as well: WLFI, the token linked to the Trump-backed DeFi platform World Liberty Financial, is down more than 30% since September, while ALT5 Sigma, which holds WLFI, has fallen more than 80% from its peak.