American Bitcoin, founded by Trump's son, saw its restricted shares expire free of lock-up, causing its stock price to plummet by over 50% at one point before ultimately closing down 35%.

Odaily Planet Daily reports that American Bitcoin Corp., the cryptocurrency mining company co-founded by Eric Trump, son of Donald Trump, experienced significant selling pressure on Tuesday due to the expiration of a lock-up period for its shares. The stock price plummeted by more than 50% within just 30 minutes of opening, triggering multiple circuit breakers. The decline later moderated, closing at $2.33 at 2:30 PM New York time, down approximately 35% from the previous trading day. The company held its opening bell ceremony on Nasdaq on September 16th of this year. (Bloomberg)