Shares of American Bitcoin (ABTC), a cryptocurrency mining company co-founded by Eric Trump and Donald Trump, Jr., experienced extreme volatility on Wednesday, its first day of trading following a merger with Gryphon Digital Mining. The Nasdaq stock exchange halted trading of the shares five times as the price surged by nearly 85% to a high of $14 per share before settling at around $9.80.
The series of trading halts reflects the intense investor interest in digital asset companies. According to the article, many crypto firms are pursuing mergers, particularly with special purpose acquisition companies (SPACs), to go public and gain access to U.S. markets. This strategy allows them to bypass the long and expensive process of a traditional initial public offering (IPO).
The article cites several other examples of crypto companies going public through this method, including Parataxis and a SPAC filed by investor Chamath Palihapitiya. It also mentions a separate SPAC deal between Trump Media and Technology Group and Crypto.com.
September 2025, Cryptoniteuae