PANews reported on July 31st that Bloomberg News reports that Eric Trump, the second son of President Donald Trump, holds a significant stake in American Bitcoin, a company he co-founded in March of this year. According to securities documents filed on Tuesday, his stake will be exchanged for approximately 367 million new shares of Nasdaq-listed Gryphon Digital Mining Inc. in a planned merger. With Gryphon's share price around $1 on Thursday, his stake could be worth $367 million when it goes public in the coming weeks. The merged company will be named American Bitcoin.