Tinder co-founder and American Bitcoin director Justin Mateen spent $1.93 million over two days to increase his stake in the company

Odaily Planet Daily News: Justin Mateen, director of Trump-family-backed Bitcoin mining company American Bitcoin (ABTC) and co-founder of Tinder, bought company shares on two consecutive days after the company released its quarterly earnings report, with a total investment of approximately $1.93 million. Regulatory filings show that Mateen purchased approximately 145,000 Class A common shares of ABTC on August 5, with a transaction value of approximately $925,000 and an average purchase price of approximately $6.40 per share; on August 6, he purchased another approximately 162,000 shares for approximately $1 million, with an average purchase price of approximately $6.19 per share. The two transactions combined totaled 306,981 shares, bringing his total ABTC holdings to 492,297 shares. American Bitcoin, supported by members of U.S. President Donald Trump's family, including Eric Trump and Donald Trump Jr., is a Nasdaq-listed Bitcoin mining and BTC reserve company. The company adopts a strategy of "large-scale mining + corporate treasury Bitcoin holdings" to provide investors with Bitcoin exposure. Financial reports show that American Bitcoin recorded a net loss of approximately $57 million in the second quarter, while its mining scale and Bitcoin reserves continued to grow during the same period. The company produced approximately 932 BTC in the quarter, a record high, and its treasury Bitcoin holdings increased to more than 8,000 BTC.