Trump-backed Stock Plummets 51% in 30 Minutes, Triggering Trading Halts

Shares of American Bitcoin Corp. (ABTC), a Bitcoin mining company co-founded by Donald Trump’s son, Eric Trump, experienced a dramatic plunge of over 50% within just 30 minutes on December 2nd. This precipitous drop prompted multiple trading halts and sent the stock price down to nearly $2.2050. While this volatility impacted ABTC, Bitcoin itself recovered, climbing approximately 7.8% in the past 24 hours after reaching a high of $91,653.98. This recent turbulence comes amidst broader market concerns as Bitcoin’s value has declined by 30% since early October due to a cooling risk appetite triggered by global macroeconomic uncertainty.