Eric Trump’s American Bitcoin Bleeds $600M as Whales Wage a $107M Ethereum Duel

A 95% Collapse successful the Trump Family’s Mining Bet

American Bitcoin Corp. (Nasdaq: ABTC), the mining institution co-founded by Eric Trump, has slumped much than 95% from its peak, wiping implicit $600 cardinal from the marketplace worth of his astir 6% stake successful astir 10 months. The banal debuted connected Nasdaq successful aboriginal September 2025 done a merger with Gryphon Digital Mining and peaked days later, closing astatine a precocious of $139.65 connected Sept. 9.

Image source: X

The diminution has been relentless ever since, with shares down astir 77% this twelvemonth alone. The descent forced the institution into a 1-for-15 reverse split to sphere its Nasdaq listing, a maneuver that changed the stock number alternatively than the underlying value.

As crypto prices fell implicit the past 9 months, investors rewarded U.S. miners that leased computing capableness to artificial quality (AI) customers. Riot Platforms, Cipher, MARA Holdings, and Terawulf person each announced information halfway deals and are up an mean of much than 60% this year. American Bitcoin, a majority-owned subsidiary of Hut 8, stuck to pure-play mining and bitcoin accumulation instead, gathering a treasury that has crossed 7,500 BTC portion its equity bled out.

Eric Trump, who serves arsenic the company’s main strategy officer, has shown nary motion of retreat. “The stacking continues,” helium said successful effect to the losses, accordant with his lasting prediction that bitcoin volition yet reach $1 million per coin.

Critics spot the occurrence differently, arsenic caller ammunition for the statement that Trump household crypto ventures (from the TRUMP memecoin to World Liberty Financial) person enriched insiders portion nationalist buyers absorbed the drawdowns.

A $107M Standoff Over Ether’s Next Move

While the Trump mining stake deflated, speculators elsewhere were adding risk. Blockchain tracker Lookonchain flagged 2 wallets taking precisely other sides of the ether commercialized connected decentralized perpetuals speech Hyperliquid, writing:

“The conflict betwixt ETH bulls and bears is on.”

According to the tracker, wallet 0xe069 opened a 20x leveraged abbreviated against 30,000 ETH (a $53.49 cardinal position) portion wallet 0x7fba opened a 10x leveraged agelong connected an identical 30,000 ETH. Combined, the 2 traders person $107 cardinal staked connected other outcomes for a coin trading adjacent $1,783.

The aforesaid trader antecedently closed 3 winning agelong trades connected BTC, ETH, and SOL, banking $444,000 successful full profits. The setup echoes a signifier Bitcoin.com News has tracked connected Hyperliquid this year, from a whale moving $48 cardinal successful shorts against bitcoin, solana, and ether to a trader shorting crypto portion going agelong connected tokenized banal indexes. Onchain perpetuals person go the arena wherever the market’s biggest directional convictions collide successful nationalist view.

Lastly, it bears mentioning that the 2 stories onshore connected the aforesaid taxable from other directions. One is simply a slow-motion drawdown (à la a politically branded equity that rode the 2025 treasury-company roar up and has present round-tripped) portion the different is fast-twitch leverage, wherever 9 figures alteration hands connected a azygous coin’s adjacent fewer percent points.