American Bitcoin, the Hut 8HUT $26.82 (0.83%) subsidiary backed by Eric Trump and Donald Trump Jr., is set to begin trading on the Nasdaq in early September via an all-stock merger with Gryphon Digital, Reuters reported, noting that the Trump brothers and Hut 8 are set to own a whopping 98% of the new entity.“Instead of going public directly via IPO, we thought that there was a lot more advantages to financing if we had an existing company that already had access to different financing too,” Hut 8 CEO Asher Genoot told Reuters. He added that “anchor shareholders in the listing have been finalized.”
Major shareholders include Gemini’s cofounders, Tyler and Cameron Winklevoss, “who invested with bitcoinBTC $109,232.94 (1.47%) rather than cash,” Genoot said in the second-quarter earnings call earlier this month.
Just think every sat you purchased in 2025 front ran this new company! Even though they got a big boost from the Voss twins! You still beat the new formalized company.