Trump-Backed American Bitcoin director Justin Mateen buys nearly $2 million of ABTC stock
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- Justin Mateen purchased 306,981 Class A shares of American Bitcoin (ABTC) on Aug. 5–6 for roughly $1.93 million, buying ~145,000 shares on Aug. 5 at an average of $6.40 and ~162,000 shares on Aug. 6 at an average of $6.19.
- Following the transactions, Mateen beneficially owns 492,297 Class A shares, reflecting adjustments for American Bitcoin's recent reverse stock split.
- American Bitcoin reported Q2 results showing a net loss of about $57 million, while mining roughly 932 bitcoin — its highest quarterly production to date — and growing its treasury to more than 8,000 BTC under a mine-and-hold strategy.
- Mateen, a Tinder co-founder, has served on American Bitcoin's board since March 2025.
- American Bitcoin counts Eric Trump and Donald Trump Jr. among its backers and trades on Nasdaq from its Miami headquarters.
- Matt Prusak, former president and interim CFO of American Bitcoin, departed the company to join Giga Energy, per a prior CoinDesk report.
Why it matters: An insider plowing nearly $2 million into ABTC right after a $57 million quarterly loss is a conspicuous show of confidence in the company's 8,000+ BTC treasury strategy, but it lands alongside C-suite churn — former president Matt Prasuk's exit to Giga Energy — that investors will weigh against the Trump-family branding tailwind.
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