Eric Trump-backed American Bitcoin to go public through all-stock merger

American Bitcoin, a new bitcoin miner backed by US President Donald Trump‘s two eldest sons, said on Monday it will list on the Nasdaq via an all-stock merger with Gryphon Digital Mining. Existing shareholders of American Bitcoin, including co-founder Eric Trump, his brother Donald Trump Jr. and crypto miner Hut 8, will retain 98% ownership of the newly formed entity.

The move is the latest in a series of crypto ventures by the Trump family, including a meme coin launched in January and World Liberty Financial, a crypto company partly owned by the…