Trump-Backed American Bitcoin director Justin Mateen buys nearly $2 million of ABTC stock

FinanceTrump-Backed American Bitcoin director Justin Mateen buys nearly $2 million of ABTC stockMateen purchased more than 306,000 shares across two days following the company's quarterly earnings, lifting his stake to more than 492,000 shares.By Will Canny, AI Boost|Edited by Cheyenne Ligon3 hrs ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowAmerican Bitcoin board member Justin Mateen bought a combined 306,981 shares of the company on Aug. 5-6 for roughly $1.93 million.The purchases came days after the Trump-backed bitcoin miner reported second-quarter results and highlighted growth in its bitcoin treasury and mining operations.Following the transactions, Mateen owns 492,297 Class A shares, adjusted for the company's recent reverse stock split.Justin Mateen, a director of the board at American Bitcoin (ABTC), the mining company backed by U.S. President Donald Trump’s family, purchased nearly $1.93 million worth of the company's stock over two consecutive trading sessions this week, following the company's latest earnings report.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.Combined, the purchases amounted to 306,981 shares for approximately $1.93 million. Following the transactions, Mateen beneficially owns 492,297 shares of American Bitcoin's Class A common stock, reflecting adjustments made after the company's recent reverse stock split.Mateen is a co-founder of Tinder and an ABTC board member since March 2025.American Bitcoin, which counts Eric Trump and Donald Trump Jr. among its backers, is a Nasdaq-listed bitcoin BTC$64,874.31 mining and accumulation company. The firm has positioned itself as a vehicle for building bitcoin exposure through a…

Trump-Backed American Bitcoin director Justin Mateen buys nearly $2 million of ABTC stock

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