American Bitcoin, a mining company affiliated with the Trump family, plans to establish a cryptocurrency trading team in Dubai

On July 1st, according to Bloomberg, a Bitcoin mining company affiliated with the Trump family plans to establish an office in Dubai. Dubai is rapidly becoming an important center in the cryptocurrency industry due to its friendly attitude towards taxation and regulation. According to the filing of Dubai International Financial Centre, Hut 8, headquartered in Miami, registered and prepared to establish the office last week. A company spokesperson confirmed that a team is being formed in Dubai to focus on trading and cryptocurrency asset hoarding strategies. According to the year-end report, Hut 8 currently has Bitcoin mining operations in Texas, New York, and Alberta, Canada. Hut 8 is involved in a new company partially owned by Donald Trump Jr. and Eric Trump. The company, named American Bitcoin, is currently receiving most of Hut 8's Bitcoin mining equipment and plans to go public this year by merging with another publicly traded company. After the merger, Hut 8 will hold 80% of the shares in the new company, and several executives including CEO Genoot will also join the board of directors. Hut 8 spokesperson stated that its new office in Dubai is not related to the partnership with American Bitcoin.