The company, which counts Eric Trump and Donald Trump Jr. among its backers, intends to execute the consolidation as soon as practicable. While the measure reduces the count of outstanding shares, it leaves the total authorized volume untouched. Alongside this structural pivot, shareholders elected Asher Genoot as a Class I director with a term running through 2029 and reaffirmed KPMG LLP as the firm's registered public accounting firm.
In section Cryptocurrency
American Bitcoin Corp Approves Reverse Stock Split Amid Market Slump
Shareholders at American Bitcoin Corp have greenlit a 1-for-15 reverse stock split, a move designed to buoy the company's per-share trading price. The decision emerged from the firm's 2026 annual meeting, where investors also solidified the board’s composition and finalized the appointment of its independent auditor.
Despite these administrative updates, American Bitcoin’s market performance remains strained. Shares fell to approximately $0.72 in early Thursday trading, extending a slide that has seen the stock shed roughly 60% of its value year-to-date. The company currently holds over 7,500 BTC, ranking it 16th among public corporate treasury holders. Recent filings also confirmed that directors including Justin Mateen, Richard Busch, and Michael Broukhim received significant tranches of Class A common shares following the vesting of restricted stock units.
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