Bitcoin is being accumulated by Dominari Holdings Inc., a modest investment bank headquartered in Trump Tower, as the firm shifts further into the cryptocurrency sector, according to an initial report by Bloomberg.
Trump-Linked Investment Bank Expands Crypto Involvement
Dominari Holdings Inc. (Nasdaq: DOMH), a small financial institution based in New York’s Trump Tower, has been increasing its bitcoin (BTC) reserves as part of a bold transition from biotechnology to finance. The development, initially reported by Bloomberg, aligns with the firm’s recent and prominent appointment of U.S. President Donald Trump’s sons, Eric Trump and Donald Trump Jr., as advisers.
It has been revealed by Bloomberg journalists Annie Massa, Bailey Lipschultz, and Dylan Sloan that the company has incurred losses totaling $70 million over the past three years and is now concentrating on underwriting initial public offerings of penny stocks—a market recognized for its high volatility.
Since the addition of the Trump brothers as advisers in February, Dominari’s stock has seen substantial gains, with each being awarded shares valued at up to $8 million. Bloomberg further reported that the firm’s bitcoin exposure includes a $2 million investment in a bitcoin exchange-traded fund (ETF).
A strategic alliance has also been formed by Dominari through a data center joint venture with bitcoin mining firm Hut 8 Corp., established earlier this year. The venture’s subsidiary, American Bitcoin, is in the process of merging with Gryphon Digital Mining, a company listed on Nasdaq.
As detailed in a May 12 SEC filing, 98% ownership of the merged entity—set to trade under the ticker “ABTC”—will be retained by Dominari and its partners.
The filing underscores bitcoin mining, through ABTC, as the central area of focus, while also outlining Dominari’s broader investment strategy spanning data centers, artificial intelligence (AI), and financial services via its subsidiaries.
Upon completion of the merger, Eric Trump is anticipated to assume the role of chief strategy officer at American Bitcoin, reinforcing the initiative’s alignment with his father’s pro-crypto stance.
