The Scaramucci household has invested over $100 million into American Bitcoin, the mining firm tied to US President Donald Trump’s sons.
The funding got here by Solari Capital, the funding agency based by AJ Scaramucci, which led the corporate’s $220 million spherical in July, months earlier than American Bitcoin went public by a reverse merger in September, based on a report from Fortune. The miner didn’t beforehand disclose its backers.
AJ Scaramucci instructed Fortune that Solari Capital contributed “over $100 million,” although he didn’t reveal the precise quantity. His father, Anthony Scaramucci, additionally participated with a smaller funding.
Different contributors included Tony Robbins, Cardano founder Charles Hoskinson, investor Grant Cardone and entrepreneur Peter Diamandis, per the report.
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Bitcoin is past politics
The involvement got here amid a long-running feud between Anthony Scaramucci and Donald Trump. Scaramucci briefly served as Trump’s White Home communications director in 2017 earlier than being fired days later, later rising as a vocal critic who endorsed Joe Biden and Kamala Harris within the 2020 and 2024 elections.
Nevertheless, AJ stated politics performed no position within the deal. “Has my Dad and Don Sr. have they’d their fair proportion of forwards and backwards? In fact they’ve,” he instructed Fortune. “However Bitcoin transcends politics.” Anthony additionally reportedly known as Bitcoin the “orange workforce” that sits above partisan divides.
In line with the report, AJ sourced the funding by a long-standing private connection. He was roommates with Matt Prusak, now the president of American Bitcoin, whereas attending Stanford’s enterprise college.
When Prusak instructed him the miner can be spun out from Hut 8, AJ pushed for Solari to guide the spherical. He stated he believes the corporate can compete with publicly traded Bitcoin accumulation corporations, together with these positioning their inventory as a proxy for proudly owning BTC.
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American Bitcoin holds 4,000 BTC
American Bitcoin mines and holds Bitcoin, and likewise purchases extra BTC on the open market. In line with BitcoinTreasuries.NET, the agency holds 4,004 BTC, value round $383.86 million, on its stability sheet.
In a latest interview with The Wall Avenue Journal, Eric Trump stated the present crypto downturn is not any trigger for concern, calling volatility a mandatory trade-off for prime returns. His feedback come as Bitcoin briefly slipped beneath $95,000, about 25% decrease than its early-October peak.
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