{"content":"🇺🇸 Trump Family Backs Bitcoin: $220M Raised for “American BTC” Push Trump family involvement in cryptocurrency is growing, as recent events show their dedication to Bitcoin. On Monday, Hut8 subsidiary American Bitcoin, sponsored by Eric Trump and Donald Trump Jr., raised $220 million. This substantial money infusion will apparently be used to increase its BTC holdings and mining activities, which employ specialized computer servers to execute Bitcoin transactions. American Bitcoin's Big Plans Fortune reports that $10 million of the private stock sale money were promptly turned into Bitcoin, but the individuals who bought shares in the Trump boys' enterprise remain anonymous. Hut 8 agreed to sell most of its BTC mining equipment to American Bitcoin for an 80% interest in the new firm earlier this year. Eric and Donald Trump Jr. are recognized American Bitcoin investors, however they may not control the full 20%. American Bitcoin plans to list on the Nasdaq as ABTC by the third quarter after a reverse merger with Gryphon Digital Mining. Growing Trump Family Crypto Market Footprint The Trumps use cryptocurrencies beyond American Bitcoin. Truth Social, a publicly listed media firm, intends to raise $2.5 billion to construct a BTC treasury, inspired by Michael Saylor's Strategy. The Trump Media and Technology Group (TMTG) has also registered to form a US BTC exchange-traded fund (ETF), giving investors exposure to Bitcoin without owning it. Other Trump-related crypto projects are also growing. President Donald Trump launched TRUMP, a memecoin worth over $1.7 billion. Investors were excited about the president's memecoin, but it underperformed. The coin rose from $10 to almost $70 in 24 hours following its January introduction. It has been falling steadily since then, 88% from its peak. Decentralized finance (DeFi) initiative World Liberty Financial (WLFI) will release a DeFi app. USD1, World Liberty Financial's stablecoin, is tied to stable assets like the US dollar and has a $2.2 billion market valuation. #TrumpVsMusk #TRUMP #BTC $BTC ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025072025/07/02/af92c459d8ea4852a4645ba7690f5d73.png"],"tags":[],"tradingPairs":["USD1/USDT"],"quotearticleid":0}