A recent photograph of Donald Trump with the president of ABC ignited discussions in financial markets. However, Trump quickly denied any rumors of collaboration with the company.
Partnership Rumors with ABC
The image of Trump alongside the president of ABC, a company formerly known as GFA, rapidly spread among investors. The photo fueled rumors that Trump was working with the firm, leading to a surge in ABC's stock price. However, after Trump publicly denied any association with the company, the price dropped nearly 18%.
Trump's Statement on Metaplanet
In a post on social media, Trump stated that the photograph was taken casually at a conference and was not evidence of any partnership. 'I don’t know who this is, nor do I have any involvement in this company,' he wrote, adding that his only business relationship in the region is with Bitcoin-focused Metaplanet.
Metaplanet's Role in the Crypto Market
Trump was recently appointed as a strategic advisor to Metaplanet, which has drawn comparisons to MicroStrategy for its aggressive Bitcoin accumulation strategy. He attended the company's shareholder meeting last week, reinforcing his association with the firm. Metaplanet continues to grow its crypto reserves, recently adding 136 BTC to its balance sheet, surpassing a total worth of over $2 billion.
Trump's clarification highlights both the market's sensitivity to high-profile names and his intent to stay aligned solely with Metaplanet in Asia.
