"Eric Trump Holds Stake in Bitcoin Mining Firm Worth $370 Million"

JOON HYOUNG LEE

Summary

Bloomberg News reported that the stake Eric Trump holds in 'American Bitcoin' could be worth about $370 million.
The American Bitcoin stake is scheduled to be exchanged for new shares of Nasdaq-listed Gryphon Digital Mining, and depending on the value of the new shares, the stake could drop to as low as $92 million.
Regarding the Trump family's potential conflict of interest, the White House spokesperson clarified there has never been any involvement.

*Eric Trump, the second son of former U.S. President Donald Trump*

An analysis suggests that the value of Eric Trump's stake in 'American Bitcoin' could reach $370 million (approximately ₩520 billion).

According to Bloomberg News on the 31st (local time), Eric Trump's American Bitcoin stake is set to be exchanged for about 367 million new shares of Nasdaq-listed Gryphon Digital Mining. As of that day, Gryphon’s share price is approximately $1. This means the value of Eric Trump's stake in American Bitcoin could be around $367 million.

On the previous day (the 30th), American Bitcoin reported to the U.S. Securities and Exchange Commission (SEC) that the expected value of the new shares is $0.25 per share. Bloomberg News stated, "In this case, the value of Eric Trump's stake would be $92 million."

American Bitcoin is a Bitcoin (BTC) mining company co-founded by Eric Trump in March of this year. Eric Trump currently serves as Chief Strategy Officer (CSO) for American Bitcoin.

Concerns are growing over potential conflicts of interest within the Trump family, which is currently pursuing a pro-cryptocurrency policy. In response, White House Press Secretary Karoline Leavitt told Bloomberg News, "President Trump and his family have never been involved in any conflicts of interest, and there will be none in the future."

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