The Bitcoin mining company partnered with Trump's son has previously clashed with regulators

2025-04-22 20:55:25

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ChainCatcher news, according to Bloomberg, the Bitcoin mining company American Bitcoin, in which Trump's son is involved, has had conflicts with regulators.

American Bitcoin will merge with the publicly traded company Hut 8 Corp. Hut 8 CEO Asher Genoot and Chief Strategy Officer Michael Ho founded the mining company US Bitcoin in 2020 before taking leadership roles at Hut 8. This mining machine company was created with "substantial assistance" from investors Groussman and Stetson, who settled with the U.S. Securities and Exchange Commission in a stock manipulation case in 2018 that profited over $27 million.

A spokesperson for Hut 8 stated that Genoot and Eric Trump are both in Florida and have many mutual friends, and they collaborated on the deal to create the new company called American Bitcoin. There is no evidence that Eric and Donald Trump Jr. were aware of past regulatory actions.

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