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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/08/2026

Trump-Backed American Bitcoin Director Justin Mateen Purchases $1.93M in ABTC Shares

What happened: Justin Mateen, director of American Bitcoin (ABTC) and Tinder co-founder, acquired 306,981 Class A shares on August 5–6, 2026, for approximately $1.

Trump-Backed American Bitcoin Director Justin Mateen Purchases $1.93M in ABTC Shares

What happened: Justin Mateen, director of American Bitcoin (ABTC) and Tinder co-founder, acquired 306,981 Class A shares on August 5–6, 2026, for approximately $1.93 million, according to SEC filings. This raises his total stake to 492,297 shares, adjusted for a recent 1-for-15 reverse stock split. ABTC, a Nasdaq-listed Miami-based miner, reported a net loss of $57 million for Q2 2026 but holds over 8,000 BTC in treasury.

Why it matters: The insider buy follows a period of significant share price decline—over 85% from post-spin-off highs—signaling confidence from Mateen and ABTC’s Trump-affiliated backers. The move comes amid executive turnover and continued financial losses, potentially aiming to reassure investors of the company’s long-term prospects despite market headwinds.

Source: CoinDesk