Trump’s Bitcoin Gamble: Will Nasdaq Turn into a Crypto Circus? 🎢

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  • American Bitcoin, that peculiar child of capitalism and cryptocurrency, plans to grace the Nasdaq with its presence in September, according to Hut 8 CEO Asher Genoot. 🕺
  • Who owns this digital gold rush contender? Well, Hut 8 holds the majority stake, but lo and behold, Donald Trump Jr. and Eric Trump have their hands in the cookie jar with a combined 20%. Sweet deal, isn’t it? 🍪
  • And just like that, American Bitcoin raised $220 million-because apparently, the only thing better than mining bitcoin is buying more of it. 💸
BTCBTC$112,775.18◢0.54%

Oh, what a tangled web we weave when politics meets blockchain! American Bitcoin, co-owned by two of President Trump’s sons (yes, *those* Trumps), is set to debut on the Nasdaq in September thanks to the ever-so-confident words of Asher Genoot, CEO of Hut 8. Why does this matter? Because Hut 8 owns 80%, and the Trump brothers are hitching their reputations-and wallets-to the crypto train. 🚂

The company has been busy finalizing a merger with Gryphon Digital Mining, which sounds less like a business move and more like an alliance forged in some dystopian sci-fi novel. Once done, existing shareholders will retain about 98% ownership. Ah, the sweet smell of continuity… or perhaps monopoly? 🤔

American Bitcoin burst onto the scene in March, armed with a plan so audacious it could make even Dostoevsky’s characters blush: mine bitcoin AND buy it outright. The Trump connection? Just a little sprinkle of political spice to keep things interesting. After all, why stop at running for office when you can run a crypto empire too? 🌟

Meanwhile, let’s not forget DJT-the other Trump-linked venture-which announced days ago that it would form a joint venture with Crypto.com via a SPAC. Oh, how the world turns! It seems the Trump family has decided that if they can’t conquer Washington, they’ll settle for conquering Wall Street instead. Or maybe both? 🐉

Recently, American Bitcoin raised $220 million from accredited investors, plus $10 million worth of bitcoin because apparently cash is passé now. This infusion of capital aims to beef up infrastructure and fatten the treasury as the company prepares for life under the harsh glare of public scrutiny. One wonders if the miners will wear suits to work once they’re officially “corporate.” 😂

Speaking at the Bitcoin Asia conference in Hong Kong, Genoot mused about expanding beyond U.S. borders, suggesting foreign partnerships might help sidestep regulatory hurdles. For those who can’t simply stroll into Nasdaq-listed stocks, these partnerships could act as secret passageways to crypto riches. How delightfully convoluted! 🌐

This impending listing feels like a wager-a bold assertion that despite stiff competition and fluctuating energy costs, there’s still appetite for crypto miners among institutional investors. If successful, American Bitcoin will join the ranks of elite miners seeking legitimacy through public markets. Meanwhile, Toronto-based Hut 8 gets another feather in its cap, while the Trump brothers secure yet another foothold in the chaotic dance of modern finance. 🕺💃

Hut 8 shares were recently trading 0.6% higher at $26.5. Not exactly groundbreaking, but hey, every bit counts when you’re playing the long game. Or should I say, the *long con*? 😉

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2025-08-28 19:44