Bloomberg: Small Investment Bank Dominari in Trump Tower Accelerates Shift to Crypto

According to Bloomberg, Dominari Holdings (Nasdaq: DOMH), a small investment bank located in Trump Tower in New York, is accelerating its shift into the cryptocurrency space, continuously increasing its holdings of Bitcoin.

The company reported a net loss of $32.50 million in the first quarter of 2025, with cumulative losses reaching $70.00 million over the past three years, but its stock price has still risen by 466% year-to-date. The bank already holds $2.00 million worth of Bitcoin ETF shares and has established a joint venture, American Bitcoin (ABTC), with Bitcoin mining company Hut 8.

According to a May 12 SEC filing, ABTC is merging with publicly traded Gryphon Digital Mining. After the merger, Dominari and other shareholders will hold 98% of the combined entity, and Eric Trump will serve as ABTC's Chief Strategy Officer.

Notably, former U.S. President Trump's two sons, Eric and Donald Jr., joined Dominari as advisors in February, each receiving potential equity incentives worth $8.00 million. Although one-third of the IPOs underwritten by Dominari in recent years have fallen by more than 75% within one year of listing, the market has reacted positively to its crypto strategy. Currently, the company's business focuses include Bitcoin mining, data centers, and artificial intelligence investments.