**[Forbes Criticizes Eric Trump for Profiting Massively from Bitcoin Business at the Expense of MAGA Investors]** April 29 – Forbes published an article criticizing Eric Trump, the second son of Donald Trump, for his Bitcoin business, calling it a disaster. The article pointed out that Eric Trump promoted his Bitcoin company, American Bitcoin (ABTC), as a "money-printing machine," when in reality, it was merely an arbitrage tool designed to exploit investors who support MAGA (Make America Great Again). Founded in 2025, American Bitcoin quickly went public on Nasdaq, leveraging the Trump family brand and the Bitcoin craze to push its valuation to $13.2 billion. During earnings calls, Eric Trump heavily promoted the company as a "leader in the Bitcoin world." However, the company reportedly had only a handful of full-time employees and relied more on storytelling and marketing than solid operations. The company continuously sold high-valued shares to purchase Bitcoin, while Eric Trump himself made almost no personal investment. Despite this, he managed to increase his personal wealth from approximately $190 million to $280 million, with other insiders also reaping significant profits. Meanwhile, ordinary investors, particularly MAGA supporters, suffered heavy losses. Over the past eight months, American Bitcoin's stock price has plummeted by about 92% from its peak, resulting in cumulative investor losses of approximately $500 million. Forbes questioned the actual profitability of American Bitcoin's mining operations, arguing that its claims of "half-price mining" were difficult to achieve and that the company was more focused on using the Trump brand to sell overpriced shares.