Trump Family Loses $600 Million on Failing Crypto Bet

American Bitcoin Corp., founded by Eric Trump, has seen its shares plummet more than 95% from their peak, erasing over $600 million from Eric Trump's stake in the company.

The decline comes as demand for artificial intelligence surged and investors increasingly favored miners that could repurpose their infrastructure for AI-focused data centers.

American Bitcoin stuck with its crypto strategy, while other companies adapted to the changing market. The company has been forced to undergo a 1-for-15 reverse stock split to maintain its Nasdaq listing.