Trump-backed American Bitcoin sets 1-for-15 reverse stock split in bid to maintain Nasdaq listing

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American Bitcoin is implementing a 1-for-15 reverse stock split to maintain its Nasdaq listing, reducing outstanding shares from approximately 1.09 billion to about 73 million. This move aims to meet the exchange's listing requirements and potentially boost the stock's market value. The reverse split may have a positive impact on the company's valuation and overall market perception.