based on the materials of the site - By AICryptocore.com
Eric Trump clarified that his exclusive business relationships in Asia are linked to Metaplanet, denying rumors related to ABC, following the speculative rise in stocks after the publication of the photo.
His public denial led to a drop in ABC's shares, highlighting the volatility of the markets due to the influence of corporate executives' associations and investor sentiments.
Eric Trump publicly confirmed his exclusive business collaboration in Asia with Metaplanet, stating that he has no ties to other companies like ABC. His statement came after rumors triggered by a photo from the conference affected ABC's shares, which fell after an initial rise.
Key players include Eric Trump, a strategic consultant at Metaplanet, a well-known Japanese company involved in treasury operations with bitcoins. Recently, the company's shares fell, which was linked to overall uncertainty in the bitcoin market, despite an increase in bitcoin acquisitions.
The immediate impact of Trump's statement was felt on Asian stock markets. ABC's shares initially soared on speculation but then fell by 17.79%. Meanwhile, Metaplanet reported accumulating bitcoins, reaching 20,136 BTC worth about $2 billion.
"I don't know who this is, and I have NOTHING to do with this company. This is a photo from the conference when I was in Asia. If someone claims that I have something to do with this company, let me clarify: I have no relation to it." — Eric Trump, strategic consultant at Metaplanet CoinGape.
Possible consequences include regulatory oversight and technological advances in corporate BTC assets. Similar incidents in history had limited long-term effects on the market. The rise of BTC share in Metaplanet makes it the sixth-largest public holder in the world, influencing corporate adoption of cryptocurrencies.
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