PANews reported on August 8th that the Winklevoss twins, founders of the cryptocurrency exchange Gemini, recently invested in American Bitcoin Corp., a Bitcoin mining company co-founded by Donald Trump Jr. and Eric Trump. The investment was made in Bitcoin, and the specific amount was undisclosed. The company, formed by a spinoff of the publicly traded mining company Hut 8, is currently seeking an IPO through a merger with Nasdaq-listed Gryphon Digital Mining, with the transaction expected to close in early September.

American Bitcoin Corp. raised approximately $220 million in cash and Bitcoin in this private placement. According to previous reports, Eric Trump's stake could be valued at $367 million after the company's IPO. The Winklevoss brothers have close ties to the Trump family, having donated to Trump's campaigns and attended White House events. The Gemini exchange, founded by the Winklevoss brothers, is also currently preparing for an IPO.