American Bitcoin, co-owned by Eric and Donald Trump Jr., experienced a nearly 17% increase in stock price during its Nasdaq debut, reaching $8.04 per share. The company combines Bitcoin mining and market purchases, leveraging significant assets to enhance its growth potential.

Crypto-related stocks, particularly bitcoin miners pivoting to AI, experienced significant losses on Wall Street, with Galaxy Digital dropping 15% and miners like Bitfarms and Cipher Mining suffering steep declines. Bitcoin remains steady around $108,000 but has fallen from $114,000, reflecting a broader risk-off sentiment in the market as investor optimism wanes. The market capitalization of AI-related companies has also decreased from over $95 billion to about $82 billion.

Coinbase's stock reached a closing price of $394.01 per share, resulting in a market capitalization exceeding $100 billion for the first time. This milestone comes on the heels of Bitcoin hitting new all-time highs and a significant surge in Coinbase shares over the past month.

Coinbase is set to join the S&P 500, replacing Discover Financial Services, with the change effective before trading on May 19. The announcement comes as Coinbase's shares surged 8% in after-hours trading, despite its stock being volatile and underperforming this year compared to bitcoin. Additionally, Coinbase recently reported a net income of $65.6 million and plans to acquire crypto derivatives exchange Deribit for $2.9 billion.