A cryptocurrency company founded by the two sons of U.S. President Donald Trump is set to be listed on the Nasdaq in New York.
According to the New York Times (NYT) on May 12 (local time), the Bitcoin mining company "American Bitcoin," established by Trump's eldest son Donald Trump Jr. and his younger brother Eric Trump, announced its plans for an initial public offering on this day.
American Bitcoin was launched at the end of March, when Trump Jr. acquired and merged the Bitcoin mining division of the cryptocurrency infrastructure company HUT8. Just over a month since its founding, the company is set to go public through a backdoor listing by merging with "Gryphon Digital Mining," a company already listed on Nasdaq.
American Bitcoin has emphasized its connection to the Trump family, describing Eric Trump as someone "who can enhance brand value through an unparalleled network influence."
Trump Jr. and Eric Trump began investing in cryptocurrency in earnest around last year's presidential election. In September last year, they launched the digital asset platform "World Liberty Financial (WLF)" and have reportedly been involved in activities such as the sale of meme coins associated with President Trump and the First Lady.
President Trump has declared his intention to make the United States the capital of cryptocurrency and has been pursuing pro-cryptocurrency policies. Immediately after taking office, he ordered the promotion of a national digital asset strategic reserve through an executive order.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
