Shares in the Trump family-backed American Bitcoin (ABTC) sank to an all-time low on Wednesday after the crypto miner set a date for a 1-for-15 reverse stock split in a bid to stay listed on the Nasdaq.

American Bitcoin said its reverse stock split will go into effect after the market closes Thursday and will begin trading on a split-adjusted basis when the market opens Monday. It would continue to trade under the ticker ABTC.

It said every 15 shares of the company’s Class A and B common stock will be reclassified as one share. The company expects its common stock to be reduced from more than 1 billion outstanding shares to about 73 million.

American Bitcoin is the only public crypto company tied to the Trump family’s sprawling interests in the sector, and a reverse stock split is typically seen as a negative, as it indicates the company is in distress and is looking to artificially boost its share price. 

American Bitcoin said the split aims to prop up its shares to maintain compliance with Nasdaq’s minimum bid requirements, which allow the exchange to delist the company if it trades below a $1 closing price for 30 consecutive trading days.

Shareholders had approved the reverse stock split on June 22.

American Bitcoin shares hit all-time low

Shares in American Bitcoin dropped nearly 8.4% to close trading Wednesday at an all-time low of 62 cents. The stock saw a slight lift after-hours, rising 4.5% to 65 cents.

American Bitcoin’s stock tumbled to an all-time closing low of 62 cents on Wednesday. Source: Google Finance

American Bitcoin’s stock is down more than 63% so far this year and has fallen more than 92% since the brand started trading on the Nasdaq on Sept. 3.

The company was co-founded early last year by US President Donald Trump’s sons, Donald Trump Jr. and Eric Trump.

American Bitcoin merged with the Nasdaq-listed Gryphon Digital Mining to go public, with the Trump brothers and crypto miner Hut 8 together owning around 98% of the newly formed company.

Related: Bitcoin miners need billions to fund AI ambitions, led by IREN’s $21B gap

The company’s falling share price comes amid a wider downturn in the crypto market. American Bitcoin reported in May that it lost $81.7 million in the first quarter.

Other crypto companies have also turned to reverse stock splits to prop up their share price. Bitcoin financial services company Nakamoto completed a 1-for-40 reverse stock split in May in a bid to stay listed on the Nasdaq after it reached a low of 16 cents in April.

Bitcoin (BTC) was trading at around $60,000 early Thursday, down 32% so far this year and having more than halved from its peak of more than $126,000 in October, according to CoinGecko.

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American Bitcoin (ABTC) is set to complete a 1-for-15 reverse stock split as it tries to remain listed on Nasdaq, a move that arrives as the company’s shares sink to fresh lows. The miner said the split becomes effective after the market closes on Thursday and will be reflected in trading on a split-adjusted basis when the market opens Monday, with the stock continuing to trade under the ABTC ticker.

Under the plan, every 15 shares of the company’s Class A and Class B common stock will be consolidated into a single share. American Bitcoin expects that its share count will fall from more than 1 billion outstanding shares to about 73 million. According to the company’s release, shareholders approved the reverse split on June 22, and the company now aims to satisfy Nasdaq’s minimum bid rules.

Key takeaways

• ABTC’s 1-for-15 reverse stock split takes effect after Thursday’s market close and begins trading on a split-adjusted basis on Monday.
• American Bitcoin expects its outstanding shares to drop from over 1 billion to roughly 73 million while keeping the ABTC ticker.
• The company’s stated reason is to maintain compliance with Nasdaq’s requirement that the stock not trade below $1 for 30 consecutive sessions.
• Shares fell to an all-time low of 62 cents on Wednesday, down nearly 8.4% on the day, before a modest after-hours rebound.
• The move reflects a broader pattern among crypto-related public companies using reverse splits to address prolonged weakness in share prices.

Reverse split scheduled to protect Nasdaq listing

Reverse stock splits are often viewed by investors as a sign that a company is struggling to keep its stock above exchange listing thresholds. In American Bitcoin’s case, the company explicitly tied the action to Nasdaq’s minimum bid requirements, which can lead to delisting if a stock closes below $1 for 30 consecutive trading days.

American Bitcoin said it is implementing the consolidation to support its share price and maintain compliance with those rules. The company also confirmed that it would continue trading under the ABTC ticker through the process.

Shares hit a record low as crypto equities remain under pressure

Wednesday’s trading brought another sharp decline for ABTC. Shares fell nearly 8.4% to close at an all-time low of 62 cents. After the close, the stock reportedly edged higher by about 4.5% to 65 cents in after-hours trading.

The stock’s broader performance has been weak. American Bitcoin is down more than 63% year-to-date and has fallen more than 92% since it began trading on Nasdaq on Sept. 3, when the company launched through a merger process involving a publicly listed crypto mining entity.

American Bitcoin was founded earlier this year by Donald Trump Jr. and Eric Trump, according to the company’s background described in the reporting. The business merged with Nasdaq-listed Gryphon Digital Mining to go public, with the Trump brothers and crypto miner Hut 8 together holding roughly 98% of the combined company.

Financial results and market turbulence weigh on the stock

American Bitcoin’s share weakness is unfolding amid a wider downturn affecting parts of the crypto market and the equities that trade as proxies for it. In May, the company reported that it lost $81.7 million in the first quarter, with the figure cited in earlier coverage from Cointelegraph.

Reverse splits can help companies avoid immediate delisting pressures, but they do not address underlying business fundamentals. For traders, that means investors may still be exposed to the same operational risks—especially in a sector where revenue can be influenced by factors such as mining economics, digital asset prices, and cost structures.

Bitcoin itself was trading around $60,000 in early Thursday trading, down 32% so far this year and more than halved from its October peak of above $126,000, according to CoinGecko.

Broader trend: crypto firms use reverse splits to stay listed

American Bitcoin is not alone in turning to reverse stock splits to manage listing compliance. Another example cited in the reporting is Bitcoin treasury company Nakamoto, which completed a 1-for-40 reverse stock split in May after its shares reached a low of 16 cents in April, also in an effort to remain on Nasdaq.

The pattern is notable because it highlights a recurring tension for crypto-linked equities: when digital assets or mining sentiment deteriorate, smaller-cap listed firms can quickly slip below exchange price floors. Reverse splits can temporarily alter the math of share price—though they leave investors’ proportional exposure unchanged in most cases—while companies work to stabilize operations or regain market confidence.

For ABTC holders, the immediate practical impact is timing. With the split scheduled to take effect after Thursday’s close and begin reflecting on Monday’s open, investors will want to watch how the market recalibrates around the new share count and whether trading volume or liquidity dynamics change after the adjustment.

Going forward, the key unknown is whether the company can sustain its share price long enough to satisfy Nasdaq’s ongoing $1 minimum-bid condition. The next few trading weeks will be the real test: the exchange compliance clock runs on consecutive closing prices, so investors should track ABTC’s daily closes after the effective date to see whether the reverse split achieves its intended listing protection.

LINE NEXT has opened developer pre-registration for Unifi Pay ahead of a planned global launch in the third quarter, with the payment infrastructure set to support USDT, JPYC and IDRP through its Unifi stablecoin wallet.

According to a CoinPost report, LINE NEXT, the U.S.-based affiliate of LINE Yahoo, announced on June 30 that Unifi Pay will be launched globally after a beta phase that handled 100 billion Korean won in cumulative payments and settlements over the past year. 

The company, which has access to LINE Yahoo’s 300 million users, is building the service on its Unifi stablecoin wallet and has started accepting pre-registrations from global developers before the official rollout.

Unifi Pay will support Tether’s USDT, the Japanese yen-denominated JPYC and the Indonesian rupiah-denominated IDRP at launch. In Japan and Indonesia, users will be able to complete online identity verification and directly top up JPYC or IDRP from their bank accounts. LINE NEXT also said it plans to add local stablecoins in more countries, depending on what each market’s regulations allow.

Unifi Pay offers wallet-based settlement with zero payment fees

Using a wallet-based structure, Unifi Pay directly connects users and suppliers and removes payment fees from the transaction process, according to the announcement. LINE NEXT said the service offers an average settlement speed of about one second.

The company will also provide a function that allows settlement funds to be sent directly to bank accounts through connected crypto exchanges and blockchain remittance solutions. This gives suppliers and developers a path to move stablecoin payments into bank accounts after receiving funds through the wallet.

For developers, AI builders, and creators, LINE NEXT is introducing the Unifi Pay SDK to simplify the process of adding global payments. The company said the SDK uses an A2A, or Agent-to-Agent, task execution method for AI agents, allowing a payment page to be created in about 10 minutes through a single command input.

Developer companies that keep payment proceeds in the wallet may receive annual rewards of up to 5%, depending on the type of stablecoin used. LINE NEXT said the reward model is tied to stablecoin holdings inside the wallet.

The beta version of Unifi Pay recorded 100 billion Korean won in cumulative payment and settlement volume over the past year, equal to about 10 billion Japanese yen based on the announcement’s conversion rate of 1 won to 0.1 yen. LINE NEXT CEO Youngsu Ko said the company plans to establish Unifi Pay as a payment infrastructure that connects developers, creators, and users around the world through its developer tools.

The planned launch also follows LINE NEXT and Kaia’s earlier stablecoin work through Project Unify, which was announced during Korea Blockchain Week in September 2025. Kaia described Project Unify as a stablecoin super-app designed to bring payments, yield, on/off-ramps and access to more than 100 decentralized apps into LINE Messenger, which the company said had nearly 200 million monthly active users across Japan, Taiwan, Thailand and Indonesia.

Kaia said at the time that Project Unify would support USD, JPY, KRW, THB, IDR, PHP, MYR and SGD at launch, while offering developers and issuers a Unify SDK with a focus on regulatory compliance, especially in South Korea. The project followed the 2024 merger of LINE’s Finschia and Kakao’s Klaytn into Kaia, which has described itself as Asia’s stablecoin orchestration layer.

Diplomatic discussions between the United States and Iran gained fresh momentum after new comments from President Donald Trump. The latest developments supported gains across several financial markets while crude oil prices moved lower. Meanwhile, traders assessed the possibility of a longer negotiation period as discussions continued in Qatar.

US-Iran Negotiations Advance as Diplomatic Efforts Continue

The United States and Iran continued negotiations in Qatar with support from regional mediators. The latest round followed earlier diplomatic contacts aimed at reducing tensions between both countries. As a result, market participants responded quickly to signs of continued engagement.

President Donald Trump described recent diplomatic progress as positive during remarks on Wednesday. He also indicated that efforts surrounding Iran’s nuclear program continued moving in the intended direction. However, he stopped short of confirming that both sides had reached a final agreement.

US representatives Jared Kushner and Steve Witkoff remained involved in the talks held in Doha. Qatar and Pakistan continued supporting communication between both governments throughout the negotiations. Their involvement reflected ongoing regional efforts to maintain dialogue and reduce geopolitical risks.

Oil Declines While Gold and Crypto See Stronger Demand

Financial markets reacted soon after reports highlighted progress in the diplomatic discussions. West Texas Intermediate crude oil dropped more than two percent during the trading session. Consequently, the benchmark price slipped below the important $70 level.

Lower oil prices reflected expectations that supply disruptions could become less likely. Earlier tensions had increased concerns about energy exports across the Middle East region. Therefore, easing diplomatic risks encouraged selling pressure across crude oil markets.

Gold also attracted fresh demand during the same trading period. Market data indicated that the precious metal added more than $74 billion in value within one day. At the same time, digital assets recorded gains, with several major altcoins outperforming Bitcoin.

Earlier reports had linked geopolitical uncertainty with increased volatility across digital asset markets. Market analysts had already warned that diplomatic developments could influence short-term price movements. The latest positive headlines supported stronger buying activity across several cryptocurrency sectors.

Ceasefire Extension Expectations Increase as Talks Continue

Prediction platform Polymarket showed rising expectations for an extension of the current negotiation period. The platform estimated a 62% probability that discussions would continue beyond the existing 60-day framework. That reading reflected improving confidence that both sides would maintain diplomatic engagement.

Despite stronger expectations, negotiations still face several important stages before reaching a formal agreement. Diplomatic discussions often require additional meetings before both governments finalize key commitments. Therefore, current progress does not guarantee a lasting resolution.

The latest developments followed previous diplomatic activity involving Iran and Oman. Both countries had established a joint committee to discuss the Strait of Hormuz and broader ceasefire matters. Those earlier efforts created additional channels for communication before the current Doha meetings.

The Strait of Hormuz remains one of the world’s most important energy shipping routes. Any improvement in regional stability can influence global oil prices and broader financial markets. Consequently, diplomatic developments continue affecting commodity and digital asset trading activity.

Current negotiations have strengthened expectations that dialogue may continue beyond the initial timeline. However, any setback during future meetings could quickly change market sentiment across several asset classes. The coming diplomatic sessions may determine whether recent gains receive additional support or reverse in the near term.

Bitcoin pushed higher at the Wall Street open on Wednesday, briefly trading up to the $60,000 area as broader risk sentiment improved and the US dollar eased.

TradingView data showed BTC/USD reaching $60,475 on Bitstamp, translating into nearly a 3% gain on the day. The move came after the pair’s June selloff had started July with a bounce from recent multiyear lows, while liquidations across crypto derivatives reportedly totaled more than $200 million over the prior 24 hours, according to CoinGlass.

Key takeaways

• BTC climbed toward $60,500 at the start of the first US session of July, adding nearly 3% intraday.
• Some of the tailwind appears linked to a cooling in US dollar strength, with DXY reversing off local highs.
• CoinGlass data points to large 24-hour liquidation totals, highlighting how sensitive leverage remains.
• Traders are framing July as a potential “relief” period, while still watching for a continuation of the broader downtrend later.
• Market participants note crowded positioning in the US dollar, which could affect cross-asset flows if it unwinds.

Bitcoin’s early July bounce targets a key $60,000 level

The rally gained momentum during the early New York session, with BTC/USD spiking to $60,475 on Bitstamp, per TradingView. At the time of the move, daily gains were running close to 3%, suggesting dip-buying interest rather than a sustained breakout at that moment.

Derivatives flows reinforced that volatility was still in play. CoinGlass data cited in the coverage put 24-hour crypto long liquidations above $200 million at the time of writing—an indicator that leveraged longs had been forced out during the prior decline, clearing some room for upside rebounds.

Trader Lennaert Snyder described the move as a “lovely pump” and suggested that exhaustion on lower time frames could precede another push toward roughly $60,700, based on his intraday charting. Snyder’s comments, posted on X, pointed to a near-term sequence: a brief cooling after the initial surge, followed by an attempt higher.

Range traders watch whether $58,000–$61,000 holds

While the price action looked constructive, several traders focused on range behavior rather than immediately calling for a trend reversal.

Daan Crypto Trades highlighted the possibility that BTC could turn the $58,000 to $61,000 area into a temporary range. In an X post earlier in the session, he argued that if price revisited either end of that range, it could produce a “decisive break” and a larger directional move.

“I think there’s a good chance that the next attempt at the range high or low will cause a decisive break and bigger move.”

US dollar weakness and “crowded” positioning add context

Alongside crypto-specific signals, the broader macro backdrop appeared to matter. The US dollar index (DXY) reportedly reversed from local highs of 101.6 at the open, giving Bitcoin room to rise as dollar strength cooled.

Commentary from The Kobeissi Letter emphasized that the larger dollar trend could shift “soon.” In a post cited in the coverage, it warned that the “long US Dollar trade is crowded,” claiming speculative long positioning surged to +$34.3 billion as of June 23—its highest level in 18 months.

That matters for crypto because BTC often trades as a high-beta asset sensitive to dollar liquidity conditions. If crowded positioning unwinds or if expectations for dollar strength fade, it can influence risk assets quickly—sometimes amplifying moves once markets already have momentum.

Why traders are calling July a potential “relief rally”

Beyond the immediate bounce, market participants continued to discuss the possibility of a relief rally through July, even as they acknowledged that the path beyond mid-summer remains uncertain.

Trader Titan, referenced in the report, pointed to a base-case scenario tied to the monthly structure—specifically that a relief move in July could occur before the downtrend resumes. In his view, Bitcoin’s monthly performance would need to navigate the broader trend pressures rather than simply break away from them.

“My base case: a relief rally in July before the downtrend resumes.”

Rekt Capital also reiterated a historical pattern he associates with Bitcoin’s calendar behavior: “Red June. Green July. Red August.” In a post cited in the coverage, he suggested that while downside “wicking” could happen early in July—potentially dipping below the new Monthly Open—history implies the price may expand upward as the month progresses.

Still, this framing is not a blanket bullish call. The same analysis points to a likely two-step process: near-term volatility and potential testing of levels early in the month, followed by an upside stretch—followed by a watchful stance for bearish moves in August.

In other words, the rally appears to be treated by many traders as a tactical reprieve within a larger uncertainty band, rather than evidence that the broader trend has definitively reversed.

What to watch next

Bitcoin’s move above $60,000 is attracting attention because it interacts with both leverage dynamics and macro inputs like the dollar. Traders will likely focus on whether BTC can hold gains through key intraday levels and whether DXY continues to lose momentum; at the same time, many market participants are watching the early-July monthly structure for signs that the “relief rally” thesis is developing or failing.