Restricted shares of American Bitcoin, founded by Trump's son, unlocked; stock price once plummeted over 50%, ultimately closing down 35%

ChainCatcher reported that American Bitcoin Corp., a crypto mining company co-founded by Eric Trump, son of Donald Trump, experienced significant selling pressure on Tuesday due to the unlocking of restricted shares. Within just 30 minutes after the market opened, the stock price plunged more than 50%, triggering multiple circuit breakers during the session. The decline later moderated, and as of 2:30 p.m. New York time, the stock closed at $2.33, down about 35% from the previous trading day. The company held its opening bell ceremony on Nasdaq on September 16 this year. (Bloomberg)