The sons of US President Donald Trump, Eric and Donald, have announced the launch of a new bitcoin mining company called American Bitcoin in partnership with the well-known mining firm Hut 8. Together, they will focus on industrial bitcoin mining and the development of strategic reserve of cryptocurrencies. The project aims to become the world’s largest and most efficient independent bitcoin miner.
Under the terms of the agreement, Hut 8 will own 80% of American Bitcoin, while Trump’s sons and their partners will retain 20%.
In addition, according to Reuters, in January, World Liberty Financial (WLFI) announced that two of its co-founders, crypto entrepreneurs Zach Folkman and Chase Herro, had ceded their controlling positions to WLF Holdco LLC. This organization is 60% owned by the Trump family. It also claims 75% of the net income from sale of WLFI tokens.
Also, recently, World Liberty Financial starts testing stablecoin pegged to the US dollar.
Source: Hut8
