Eric Trump’s Crypto Firm Crashes 40%—Is This the End of His Fortune? Find Out Now!

Shares in Eric Trump’s crypto mining venture, American Bitcoin Corp (ABTC), plummeted nearly 40% in less than half an hour on Tuesday, triggering multiple trading halts. This sharp decline, which saw shares drop from $2.39 to $1.90, comes amid a broader downturn in the cryptocurrency market often referred to as a “crypto winter.” After peaking at $9.31 on September 9, ABTC has now lost approximately 78% of its value since then.

The sell-off wiped out roughly $1 billion from the company’s market capitalization, with trading volume soaring to almost 40 times its daily average, according to Bloomberg data. The decline in ABTC's stock price is reflective of the overall instability within the cryptocurrency sector, with Bitcoin itself dropping more than 30% since October 6, erasing gains made throughout the year.

Eric Trump, the president’s second son, had previously stated on social media that his company accounts for 2% of the world’s Bitcoin supply. “I truly believe we are building one of the greatest crypto companies anywhere on earth,” he claimed, echoing the bold assertions often made by his father in various business ventures.

In response to the dramatic drop in share value, Eric Trump took to X (formerly Twitter), attributing the volatility to investors cashing in on profits for the first time. He reassured followers, stating, “I’m holding all my @ABTC shares - I’m 100% committed to leading the industry.” His confidence, however, comes as many cryptocurrency investments face significant declines. Analysts at Deutsche Bank reported that the crypto market has lost $1 trillion in total value globally since early October.

American Bitcoin Corp was founded earlier this year from a division of Hut 8 Corp. It reported a net income of $3.5 million on revenue of $64.2 million for the third quarter of 2023, as per Bloomberg. Yet, this financial performance seems overshadowed by the current volatility and the subsequent hit to its stock.

The Trump family's foray into cryptocurrency is not limited to American Bitcoin. The family began their crypto journey in 2022 with a non-fungible token (NFT) launch and has since expanded to include World Liberty Financial in 2024, alongside a cryptocurrency that bears the Trump name, $Trump, introduced in 2025. However, these ventures, like ABTC, have also seen declines. The value of WLFI, the token for World Liberty Financial, fell from 26 cents in early September to about 16 cents.

Despite the current dip, Eric Trump remains optimistic about the future of cryptocurrency. He referred to the latest price drop as a “great buying opportunity,” suggesting that investors who buy during downturns will ultimately emerge victorious. This sentiment is part of a larger narrative in the crypto world, where volatility is seen as a normal aspect of trading.

The Trump family’s fortune, heavily tied to these crypto ventures, has also felt the impact of the downturn. Bloomberg estimates their wealth has decreased from $7.7 billion in September to $6.7 billion now, driven by the decline in value of their crypto-related investments. Historically, the former president was skeptical about cryptocurrencies, having once called them “not money” and “based on thin air.” However, he shifted his stance during his second presidential campaign, becoming the first major U.S. presidential candidate to accept donations in cryptocurrency.

In addition, shares in the Trump Media & Technology Group (TMTG), which began acquiring Bitcoin this year, have also faced challenges; they are currently trading around $11, down from an earlier high of $42 in February. The volatility of both ABTC and other Trump-affiliated ventures highlights the risks inherent in the burgeoning cryptocurrency market, raising questions about the sustainability of these investments.

The situation surrounding American Bitcoin Corp and its leadership exemplifies the broader struggles within the crypto space as the market grapples with severe fluctuations. As Eric Trump and other investors navigate this turbulent landscape, the future of these investments remains uncertain, reflecting the unpredictable nature of the cryptocurrency ecosystem.