Eric Trump, the 41-year-old son of former President Donald Trump, is experiencing significant turbulence in his cryptocurrency ventures this week. On Tuesday, shares in his crypto mining company, American Bitcoin (ABTC), plunged over 50% in under half an hour. In doing so, they fell off a cliff, crashing from $2.39 down to a measly $1.90. The entire cryptocurrency market is currently experiencing a bear trend. In the roughly two months since the start of October, it’s fled $1 trillion in value internationally, leading to a stunning collapse.
The Trump family’s new adventure in the cryptocurrency world started in late 2022 with the release of an NFT (non-fungible token). After going through their first accelerator step with Brooklyn, they established World Liberty Financial in 2024. In 2025, they released their resident cryptocurrency, $Trump. Eric Trump serves as the face of this family business. He would know—as CEO of blockchain startup Bitdeer, his Texas-based crypto mining operation produces 2% of the global Bitcoin supply.
Eric Trump didn’t seem fazed by the dropping values.
“I truly believe we are building one of the greatest crypto companies anywhere on earth.” – Eric Trump
American crypto’s current plight is not an isolated incident, but rather reality for many in the world of cryptocurrency assets. Bitcoin on Wednesday closed more than 30% below its November peak. It has since dropped from $126,272 on October 6 to approximately $92,133 as of writing. Eric Trump’s new golf course hit some wild bumps, curves and dips in the road just weeks ago. Its stock went up to a peak of $9.31 on September 9, before crashing downwards by 78% to its current trading value.
The timing of this monster market downturn couldn’t come at a worse time for the Trump family’s ventures in the crypto space. Shares in Trump Media & Technology Group (TMTG), which began acquiring Bitcoin earlier this year, are now trading around $11, down from $42 in February. This massive drop is indicative of investor fear about the safety and long-term viability of investing in cryptocurrency.
Eric Trump remains bullish on his enterprises. Industry leaders caution that the unpredictable nature of cryptocurrencies can lead to swift changes in investment worth. The recent rise in market activity is a reminder of these risks, which pose a meaningful threat to investor confidence going forward.
That hasn’t stopped Eric Trump from passionately championing his firm’s potential. Simultaneously, he is on a mission to stabilize American Bitcoin as world markets face critical headwinds. The results of these initiatives will be watched carefully by investors and other members of the industry.