Trump-backed American Bitcoin ends choppy Nasdaq debut up 16%

The Eric and Donald Trump Jr.-backed American Bitcoin finished trading at a gain on Wednesday after a turbulent first day on the Nasdaq.

American Bitcoin, a crypto mining company linked to the Trump family, ended its choppy first day on the Nasdaq up over 16%, adding millions to the US first family’s wealth.

The company, backed by US President Donald Trump’s sons Eric and Donald Trump Jr., went public after merging with the existing Bitcoin (BTC) mining company Gryphon Digital Mining (GRYP).

In early trading on Wednesday, American Bitcoin (ABTC) shot up 91% from Gryphon’s Tuesday closing price of $6.90 to a peak of $13.20 before falling by half to an afternoon low of $6.72.

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