Trump family-related American Bitcoin plans to reverse stock split at 1:15 to ensure compliance with Nasdaq listing

On July 2, AmericanBitcoin, backed by Eric Trump and Trump, announced a 1:15 reverse stock split to meet the Nasdaq minimum price requirement of US$1. After the split, the outstanding shares will drop from approximately 1.09 billion shares to 73 million shares. The company still holds approximately 7500 Bitcoin coins, making it the 16th largest holder of listed companies. Share prices fell more than 64% during the year.