PANews reported on December 3rd that, according to Bloomberg, shares of American Bitcoin Corp., the cryptocurrency mining company co-founded by Eric Trump, plummeted by over 50% in 30 minutes on December 3rd due to a sell-off triggered by the unlocking of a private placement. The stock later recovered to close down 35% at $2.33. The company was originally spun off from Hut 8 and had already fallen more than 60% from its September high. Trump tweeted that he "will own all the shares."PANews reported on December 3rd that, according to Bloomberg, shares of American Bitcoin Corp., the cryptocurrency mining company co-founded by Eric Trump, plummeted by over 50% in 30 minutes on December 3rd due to a sell-off triggered by the unlocking of a private placement. The stock later recovered to close down 35% at $2.33. The company was originally spun off from Hut 8 and had already fallen more than 60% from its September high. Trump tweeted that he "will own all the shares."

The expiration of the lock-up period triggered a sell-off, causing the stock price of a US Bitcoin company to plummet by more than 50% in 30 minutes.

2025/12/03 09:37
1 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

PANews reported on December 3rd that, according to Bloomberg, shares of American Bitcoin Corp., the cryptocurrency mining company co-founded by Eric Trump, plummeted by over 50% in 30 minutes on December 3rd due to a sell-off triggered by the unlocking of a private placement. The stock later recovered to close down 35% at $2.33. The company was originally spun off from Hut 8 and had already fallen more than 60% from its September high. Trump tweeted that he "will own all the shares."

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Why Localization Services Matter for Software Companies

Why Localization Services Matter for Software Companies

Rarely does software designed for one market translate smoothly to another. The most obvious obstacle is language, but it’s not the only one. Before a product feels
Share
Techbullion2026/03/25 19:10
₹71L CoinDCX Fraud Case Turns, Court Finds No Link to Founders

₹71L CoinDCX Fraud Case Turns, Court Finds No Link to Founders

Court grants bail to CoinDCX founders after ₹71L scam traced to fake site; no link found, funds recovered, platform secure. The court granted bail to CoinDCX founders
Share
LiveBitcoinNews2026/03/25 19:43
UK crypto holders brace for FCA’s expanded regulatory reach

UK crypto holders brace for FCA’s expanded regulatory reach

The post UK crypto holders brace for FCA’s expanded regulatory reach appeared on BitcoinEthereumNews.com. British crypto holders may soon face a very different landscape as the Financial Conduct Authority (FCA) moves to expand its regulatory reach in the industry. A new consultation paper outlines how the watchdog intends to apply its rulebook to crypto firms, shaping everything from asset safeguarding to trading platform operation. According to the financial regulator, these proposals would translate into clearer protections for retail investors and stricter oversight of crypto firms. UK FCA plans Until now, UK crypto users mostly encountered the FCA through rules on promotions and anti-money laundering checks. The consultation paper goes much further. It proposes direct oversight of stablecoin issuers, custodians, and crypto-asset trading platforms (CATPs). For investors, that means the wallets, exchanges, and coins they rely on could soon be subject to the same governance and resilience standards as traditional financial institutions. The regulator has also clarified that firms need official authorization before serving customers. This condition should, in theory, reduce the risk of sudden platform failures or unclear accountability. David Geale, the FCA’s executive director of payments and digital finance, said the proposals are designed to strike a balance between innovation and protection. He explained: “We want to develop a sustainable and competitive crypto sector – balancing innovation, market integrity and trust.” Geale noted that while the rules will not eliminate investment risks, they will create consistent standards, helping consumers understand what to expect from registered firms. Why does this matter for crypto holders? The UK regulatory framework shift would provide safer custody of assets, better disclosure of risks, and clearer recourse if something goes wrong. However, the regulator was also frank in its submission, arguing that no rulebook can eliminate the volatility or inherent risks of holding digital assets. Instead, the focus is on ensuring that when consumers choose to invest, they do…
Share
BitcoinEthereumNews2025/09/17 23:52