Author: Chloe, ChainCatcher

Last month, just hours before heading to a state dinner with King Charles III, Eric Trump, Donald Trump’s second son, posted a five-paragraph defense on X. The trigger was a controversy surrounding his involvement: he had long told investors that the publicly traded cryptocurrency company he helped run, “American Bitcoin,” could mine bitcoin at roughly half the market price—a claim exposed by a Forbes report.

As of June 17, 2026, the stock price of American Bitcoin (Nasdaq ticker ABTC) has fallen to approximately $0.83, a decline of about 90% from its year-end high of around $175 and its initial public offering price of $14.

Then, Eric shifted focus in his post to another long-buried matter weighing on…