Eric Trump, son of the former president, stands to gain a substantial fortune, potentially valued at $367 million, from his involvement in a recently established Bitcoin mining endeavor. This venture, only four months old, is preparing to become a publicly traded company in the near future.
The second son of President Donald Trump holds a significant ownership position in American Bitcoin Corp., a privately held firm he helped found in March. As part of an upcoming merger, his equity will be exchanged for approximately 367 million newly issued shares in Gryphon Digital Mining Inc., a company already listed on the Nasdaq. This information was revealed in a filing with securities regulators made public on Tuesday. As of Thursday, Gryphon’s shares were trading around $1. Following the merger, the newly formed entity will operate under the name American Bitcoin.
Eric Trump
Photographer: Ronda Churchill/Bloomberg
The specifics of Trump’s substantial investment were disclosed in the same week that…
