According to Bloomberg, Foresight News reports that the Bitcoin mining partner of Trump's son, American Bitcoin, previously had conflicts with regulatory agencies. American Bitcoin will merge with the publicly traded company Hut 8 Corp. Hut 8 CEO Asher Genoot and Chief Strategy Officer Michael Ho founded the mining company US Bitcoin in 2020 before taking leadership roles at Hut 8. This mining company was created with the "material assistance" of investors Groussman and Stetson, who reached a settlement with the US Securities and Exchange Commission in a stock manipulation case in 2018, profiting over $27 million.
A Hut 8 spokesperson stated that Genoot and Eric Trump are both in Florida, share many mutual friends, and together planned the creation of the new company called American Bitcoin. There is no evidence suggesting that Eric and Donald Trump Jr. were aware of past regulatory actions.
