Trump-Linked American Bitcoin Mining Firm Going Public

By: bitcoin ethereum news|2025/05/14 09:00:14
0
Share
copy
In brief Hut 8 subsidiary American Bitcoin is going public via merger with Gryphon Digital Mining. President Donald Trump’s son Eric Trump will serve as chief strategy officer. Shares of Gryphon and Hut 8 both finished up on the day. American Bitcoin, a majority-owned subsidiary of Bitcoin mining company Hut 8 with connections to Eric Trump, plans to go public via a merger with publicly traded Gryphon Digital Mining. The transaction, which is expected to close as early as Q3, is a 100% stock-for-stock merger in which the existing stockholders of American Bitcoin are expected to own around 98% of the merger company. “This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost Bitcoin accumulation at scale,” said Hut 8 CEO Asher Genoot in a statement. “By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders.” The company will operate under the American Bitcoin brand, but lean on Hut 8 for infrastructure and operations as it aims to build “America’s Bitcoin infrastructure backbone.” In doing so, it lists three core objectives for the planned merger company: mine Bitcoin efficiently, lead the Bitcoin ecosystem, and build a Bitcoin reserve. “Bitcoin lacks clear U.S. leadership and ecosystem cohesion, creating an opportunity to unify and lead,” a merger presentation on the American Bitcoin website reads. “ABTC will leverage its unique operational power and trusted brand reach to cut through the market’s complexity and deliver simplified, reliable Bitcoin access for Americans.” Eric Trump, son of President Donald Trump, will serve as the co-founder and chief strategy officer of American Bitcoin. Genoot will serve as a board member, alongside Executive Chairman Mike Ho and CEO Matt Prusak. “Very proud of this project and the incredibly talented group of friends that are involved!,” posted Trump on X (formerly known as Twitter). The endeavor is the latest with ties to the Trump family in crypto, following the launch of World Liberty Financial, Trump Media’s crypto ETF push , and the President and First Lady’s meme coin launches on the Solana blockchain . Trump Media also recently unveiled it is considering introducing a token for its Truth ecosystem which includes Truth Social and Truth+, a video-streaming platform. Shares of Gryphon Digital Mining (GRYP) were up more than 173% on the day to $1.42 while Hut 8 has bounced 11.74% as indices rose amid improving tariff news . Bitcoin recently fell 2.1% in the last 24 hours to trade just above $102,000. Edited by James Rubin Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Source: https://decrypt.co/319105/trump-linked-american-bitcoin-mining-firm-going-public

You may also like

Why can this institution still grow by 150% when the scale of leading crypto VCs has shrunk significantly?

The merger of the two major payment companies, Bridge and BVNK, establishes their industry position and revenue scale.

Anthropic's $1 trillion, compared to DeepSeek's $100 billion

The capital market has no faith, it only believes in the profit and loss statement.

Geopolitical Risk Persists, Is Bitcoin Becoming a Key Barometer?

Liquidity Still Unleashed, Which Force Will Dictate Pricing

Annualized 11.5%, Wall Street Buzzing: Is MicroStrategy's STRC Bitcoin's Savior or Destroyer?

25M Transaction Volume, 17,204 BTC

An Obscure Open Source AI Tool Alerted on Kelp DAO's $292 million Bug 12 Days Ago

AI Agent could potentially become an additional security layer for DeFi investors.

Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


Popular coins

Latest Crypto News

Read more