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Eric Trump loses $600M in risky Bitcoin bet as value of Trump-backed company plummets

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Eric Trump loses $600M in risky Bitcoin bet as value of Trump-backed company plummets

American Bitcoin Corp is now $600 million poorer thanks to an unsuccessful gambit by co-founder Eric Trump.

The company’s shares are now 95% lower than their peak. It was also forced to undergo a 1-for-15 reverse stock split to remain on Nasdaq. On Wednesday, American Bitcoin’s stock price hit an all-time low.

iesniedza /u/IrishStarUS
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