●Sell-off triggered by expiration of private placement lock-up
●Shares recover partially to close with 35% loss
Shares of American Bitcoin Corp., a mining company co-founded by Eric Trump, plummeted over 50% within 30 minutes of trading. The crash was triggered by the expiration of a lock-up period for private placement investors, resulting in immediate selling pressure.
The stock partially recovered but remained down approximately 35% on the day. The event highlights the extreme volatility inherent in low-float crypto equities when facing scheduled supply unlocks.