Eric Trump’s cryptocurrency mining company, American Bitcoin Corp (ABTC), faced a dramatic shock this week when its shares dropped almost 40% in less than 30 minutes. The stock fell from $2.39 to $1.90, causing several trading halts as markets tried to slow the rapid decline. The sharp fall worried many investors because it came with no warning and happened very quickly.
The drop took place while the larger crypto market was already slipping into what many are calling a “crypto winter”. The sudden fall in ABTC’s share value was one of the biggest single-day shocks in this ongoing downturn.
The company’s shares had been much higher earlier this year. ABTC reached a peak of $9.31 on September 9, but since then, the stock has lost nearly 78% of its value. Many small investors who bought shares at higher prices found themselves stuck with unexpected losses as the market continued to slip.
Crypto market wipe-out triggers massive losses
The crash in ABTC’s share price is part of a much larger crisis in the cryptocurrency sector. Over the past few weeks, the value of major digital currencies has dropped sharply. Bitcoin has fallen more than 30% since early October. It went from a high of $126,272 to around $92,133, wiping out huge gains built up over the past year.
Financial analysts at Deutsche Bank reported that around $1 trillion has disappeared from the global crypto market since October. This includes losses from digital coins themselves, as well as losses from companies connected to mining, trading, or storing cryptocurrencies.
For ABTC, the impact was severe. The company’s market value dropped by almost $1 billion in a single day. Trading volume in the stock was nearly 40 times the daily average, showing that many investors rushed to sell their shares as soon as the price started falling.
Just a month earlier, ABTC had reported positive results. According to reports, the company recorded third-quarter net income of $3.5 million and revenue of $64.2 million. These numbers showed that the business was operating normally before the widespread crypto market slump began.
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Eric Trump responds as multiple family crypto ventures fall
After ABTC’s sharp decline, Eric Trump said on X that the sell-off happened because some investors were allowed to “cash in on their profits for the first time,” which he said naturally creates volatility. He added that he is holding all his @ABTC shares and remains “100% committed to leading the industry.”
Last month, he also said on social media that the Texas-based miner handles 2% of the world’s bitcoin supply and that the company is building one of the strongest crypto platforms.
American Bitcoin Corp was formed earlier this year from Hut 8 Corp. The family’s crypto ventures began in 2022 with an NFT launch, followed by World Liberty Financial in 2024 and the $Trump token in 2025.
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These projects have also fallen during the recent downturn. The WLFI token dropped from 26 cents in early September to about 16 cents.
Another related company, Trump Media & Technology Group (TMTG), which began buying bitcoin earlier this year, has also declined. Its shares now trade around $11, down from $42 in early February.
Despite these setbacks, Eric Trump told Bloomberg late last month that the price drops are “a great buying opportunity” and that people who buy during dips can benefit from volatility.
Crypto winter puts pressure on companies across the industry
The fall in ABTC shares is one example of the pressure being felt across the entire crypto industry. As digital coins continue to lose value, many companies connected to mining, trading, and blockchain development are facing intense financial stress. The recent price crash has made investors nervous, leading to more selling and larger market swings.
With major digital currencies declining quickly, even strong companies are finding it hard to maintain stability. Many digital tokens have lost a large portion of their value, and businesses built around blockchain technology are reporting reduced earnings. This situation has caused widespread uncertainty across the sector.
