American Bitcoin, linked to the Trump family, debuted on Nasdaq with a 10% stock rise. Backed by Donald Trump Jr. and Eric Trump, the company plans to use self-mining operations and bitcoin purchases to set itself apart in a competitive field.

Public companies accumulating bitcoin for corporate treasuries is a growing trend. American Bitcoin’s stock rose 16.5% to close at $8.04, trading above $14 at one point. Another Trump family-backed crypto project, World Liberty Financial, launched public trading, increasing the family’s crypto holdings value.

The Trump family has made a significant shift from real estate to crypto projects, including a stablecoin and meme coin. Democrats criticize the president’s move to capitalize on his popularity with crypto investors, while Trump denies any improper conflicts of interest.

Read more at Yahoo Finance: Trump-backed bitcoin company rises in first day of trading on Nasdaq