The stock price of a cryptocurrency mining company backed by the Trump family plummeted by half in 30 minutes.
TL;DR
American Bitcoin Corp, a crypto mining company co-founded by Eric Trump, saw its stock price drop over 50% in under 30 minutes amid Bitcoin's price correction, with trading halted multiple times due to volatility.
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On December 3, Bloomberg reported that 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). The cryptocurrency mining company, co-founded by Eric Trump, the second son of Donald Trump, saw its stock price plummet by more than half in less than 30 minutes on Tuesday, despite trading being suspended multiple times due to the extreme volatility. The stock once fell by as much as 51%.
According to market data, American Bitcoin's stock price is currently at $2.07, a drop of 42.18%.