Eric Trump’s cryptocurrency firm loses half its value in half an hour | Eric Trump
Shares in Eric Trump’s crypto mining business lost more than half their value in less than 30 minutes on Tuesday.
The nosedive of American Bitcoin Corp, which triggered repeated trading halts, followed the steep decline of many cryptocurrencies and crypto-linked companies into what some observers are calling the onset of a “crypto winter”. Bitcoin’s value has fallen sharply since the start of October and erased a year of large gains.
Shares in American Bitcoin, which trades as ABTC, dropped to $1.90 after closing a day earlier at $2.39. The stock was previously at the lower level in May, before peaking at $9.31 on Sept 9 and then falling 78% to today’s trading value.
Eric Trump, the president’s second-born son, claimed last…
