Eric Trump calls Forbes report on miner ABTC a 'disgrace to journalism'

Eric Trump, the second son of President Trump, has condemned a Forbes report on Bitcoin miner American Bitcoin (ABTC) as a "disgrace to journalism." His comments follow an article in which Forbes described ABTC as an arbitrage vehicle targeting investors who support the MAGA movement. The publication reported that ABTC's market capitalization had plummeted approximately 92%, from a peak of $13.2 billion to $1.24 billion, resulting in an estimated $500 million in losses for retail investors. In response, Eric Trump defended the company, stating that its fourth-quarter revenue reached $78.3 million, a 22% increase from the previous quarter. He added that ABTC holds over 7,000 BTC, ranking it as the 16th largest publicly traded corporate holder of the asset, and accused Forbes of spreading propaganda for political reasons.