Eric Trump's American Bitcoin Bleeds $600M as Whales Wage a $107M Ethereum Duel
Crypto’s appetite for high-stakes bets was on full display Monday as shares of Eric Trump’s American Bitcoin collapsed 95% from their peak, erasing more than $600 million from his stake. Simultaneously, two. . .
Crypto’s appetite for high-stakes bets was on full display Monday as shares of Eric Trump’s American Bitcoin collapsed 95% from their peak, erasing more than $600 million from his stake. Simultaneously, two traders squared off onchain with $107 million in opposing leveraged ether positions. Key TakeawaysAmerican Bitcoin (ABTC) has fallen 95% from its $139. 65 peak, cutting Eric Trump’s 6% stake by $600M. Rivals Riot, MARA, Cipher and Terawulf are up over 60% on average in 2026 after pivoting toward AI deals. Lookonchain spotted dueling 30,000 ETH bets on Hyperliquid, a 20x short against a 10x long, $53. 49M each. A 95% Collapse in the Trump Family’s Mining BetAmericanBitcoinCorp. (Nasdaq: ABTC), the mining company co-founded by Eric Trump, hasslumped more than 95%from its peak, wiping over $600 million from the market value of his roughly 6%stakein about 10 months. The stock debuted on Nasdaq in early September 2025 through a merger with Gryphon Digital Mining and peaked days later, closing at a high of $139. 65 on Sept. 9. Image source: XThe decline has been relentless ever since, with shares down about 77% this year alone. The slide forced the company into a1-for-15 reverse splitto preserve its Nasdaq listing, a maneuver that changed the share count rather than the underlying value. Ascryptoprices fell over the past nine months, investors rewarded U. S. miners that leased computing capacity to artificial intelligence (AI) customers. Riot Platforms, Cipher, MARA Holdings, and Terawulf have all announced data center deals and are up an average of more than 60% this year. AmericanBitcoin, a majority-owned subsidiary of Hut 8, stuck to pure-play mining andbitcoinaccumulation instead, building a treasury that hascrossed 7,500 BTCwhile its equity bled out. Eric Trump, who serves as the company’s chief strategy officer, has shown no sign of retreat. “The stacking continues,” he said in response to the losses, consistent with his standing prediction thatbitcoinwill eventuallyreach $1 millionper coin. Critics see the episode differently, as fresh ammunition for the argument that Trump familycryptoventures (from theTRUMP memecoin to World Liberty Financial) have enriched insiders while public buyers absorbed the drawdowns. A $107M Standoff Over Ether’s Next MoveWhile the Trump mining bet deflated, speculators elsewhere were adding risk. Blockchaintracker Lookonchainflagged two walletstaking exactly opposite sides of the ether trade on decentralized perpetuals exchange Hyperliquid, writing:“The battle betweenETHbulls and bears is on. ”According to the tracker, wallet 0xe069 opened a 20x leveraged short against 30,000ETH(a $53. 49 million position) while wallet 0x7fba opened a 10x leveraged long on an identical 30,000ETH. Combined, the two traders have $107 million staked on opposite outcomes for a coin trading near $1,783. The same trader previously closed three winning long trades onBTC,ETH, andSOL, banking $444,000 in total profits. The setup echoes a patternBitcoin. comNews has tracked on Hyperliquid this year, from awhalerunning$48 million in shortsagainstbitcoin,solana, and ether to a trader shortingcryptowhilegoing long on tokenized stock indexes. Onchain perpetuals have become the arena where the market’s biggest directional convictions collide in public view. Lastly, it bears mentioning that the two stories land on the same theme from opposite directions. One is a slow-motion drawdown (à la a politically branded equity that rode the 2025 treasury-company boom up and has now round-tripped) while the other is fast-twitchleverage, where nine figures change hands on a single coin’s next few percentage points.