A digital currency initiative with ties to the family of former President Donald Trump has reportedly secured $220 million in funding. The funds are earmarked for acquiring Bitcoin and hardware essential for cryptocurrency mining operations, as indicated in a recently released document.
American Bitcoin, a firm supported by figures such as Eric Trump, the former president’s son, completed a share offering to select private investors last Friday. The regulatory filing from Hut 8 Corp., the primary stakeholder in American Bitcoin and a publicly traded entity, reveals that a portion of these shares, valued at approximately $10 million, was transacted using Bitcoin as payment, rather than traditional U.S. currency.