CoinDesk·2 min read·medium
Trump-Backed American Bitcoin director Justin Mateen buys nearly $2 million of ABTC stock
W
Will Canny
✦AI Summary
Justin Mateen, a board member of American Bitcoin (ABTC), has purchased nearly $2 million worth of the company's stock following a recent reverse stock split. The firm, which counts Eric Trump and Donald Trump Jr. among its backers, continues to pursue a strategy of large-scale bitcoin mining and treasury accumulation.
According to regulatory filings, Mateen bought about 145,000 Class A shares on Aug. 5 for roughly $925,000 at an average price of $6.40 per share. He followed that with the purchase of about 162,000 shares on Aug. 6 for approximately $1 million at an average price of $6.19 per share.
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