PANews reported on April 29th, citing Forbes, that Eric Trump, the second son of Donald Trump, touted his Bitcoin company, American Bitcoin, as a "money-printing machine," but it was actually an arbitrage tool exploiting MAGA investor sentiment. The company attracted investors through exaggerated advertising, leveraging the premium of the Trump brand to issue shares at inflated valuations, cashing out and then using the proceeds to buy Bitcoin, while ordinary investors suffered heavy losses. Since its IPO in September, the company has sold approximately 158 million shares, cashing out about $351 million, and purchasing Bitcoin worth approximately $390 million. The company claimed mining costs of approximately $58,000, but the actual total cost, including equipment depreciation, was approximately $90,000, higher than the current Bitcoin price. The company faces risks through its mining equipment financing agreements; if the Bitcoin price does not rebound, all the Bitcoin it mines could be used to pay for equipment. The company actually has only two full-time employees, and its stock price has fallen 92% from its peak, with estimated investor losses of approximately $500 million. Eric Trump's personal wealth increased from approximately $190 million to $280 million.

In response, Eric Trump stated on the X platform that "Forbes has become a political weapon and a disgrace to journalism." He stated that American Bitcoin, founded just over a year ago and listed for 7 months and 25 days, currently holds over 7,000 Bitcoins, making it the 16th largest publicly traded Bitcoin company globally, with nearly 90,000 mining rigs and a hashrate of 28 EH/s. In the fourth quarter, the company's Bitcoin holdings on its balance sheet increased by 58%, mining costs were discounted by 53% from market prices, and quarterly revenue reached $78.3 million, a 22% increase quarter-over-quarter. Eric Trump also urged readers to judge the source of information themselves.