Shares of American Bitcoin, backed by Trump’s sons, stabilize after a 40% drop due to a share lock-up expiration. The stock rises 11.2% to $2.44 post unlock. Trump family members are involved in the company with Eric Trump as co-founder. Memecoins linked to the family have seen significant declines.

American Bitcoin, a subsidiary of Hut 8 Corp, faces volatility as shares find new owners. Eric and Donald Trump Jr. did not participate in the share unlock and continue to hold their shares. Hut 8 CEO and American Bitcoin’s Executive Chairman reassure investors on the situation.

Global risk aversion affects digital assets, impacting ventures connected to the Trump family. Memecoins $TRUMP and $MELANIA have plummeted 92% and 99% from their peaks. Trump Media & Technology Group and Alt5 Sigma, associated with Trump’s crypto ventures, have also faced significant declines in their share value.

Read more at Yahoo Finance: American Bitcoin steadies after share lock-up expiry sparks near 40% plunge