Trump-backed, crypto-leaning Dominari Bank posts 450% top-line growth in 2Q25

Shares of micro-cap investment bank Dominari Holdings Inc. jumped 25% yesterday after the company, where Donald Trump’s sons are advisors, reported a nearly fivefold year-over-year surge in revenue and swung to a profit from a loss.

Dominari Bank soared 25% yesterday to $6.60 per share, marking their highest close since March 6. Even after the rally, the investment bank’s market capitalization is only about $100 million. In morning trading today, the stock has extended the gains by about 1.2% as of this writing.

The surge followed the release of impressive second-quarter results. The investment bank, headquartered in Trump Tower in Manhattan, reported a 452% year-over-year jump in revenue to $34 million. Net income nearly quadrupled to $17.6 million, compared with a loss of $6.1 million in the same period of 2024.

This is the first full quarter since Trump's sons were added to Dominari's advisory board. The brothers joined the investment bank in early February. They invested in a private placement totaling $13.3 million. Each received 750,000 shares at that time, and Eric Trump now owns about 6.3% of the company, Bloomberg estimates.

Since then, Dominari has been involved in a number of notable deals. The organizations the bank has raised money to invest in include Elon Musk's SpaceX, drone maker Unusual Machines, and DOGE, which Musk headed until the end of May, the company said in a letter to shareholders. Dominari executed a total of 46 deals in the second quarter, raising a total of more than $288.9 million in private and public offerings.

Immediately after Trump's sons joined the Dominari board, the company began a pivot to crypto.

On February 18, Dominari announced the creation of American Data Centers, an independent company, whose members include Dominari, Eric and Donald J. Trump Jr., and “other industry professionals” in AI.

In late March, American Data Centers merged with publicly traded Bitcoin miner Hut 8 Corp to form American Bitcoin Corp. At the end of June, Dominari held a stake in American Bitcoin valued at $32 million, the largest of the company's long term private holdings, according to its quarterly financial statement. American Bitcoin's cofounder and chief strategy officer is Eric Trump.

Between its launch in April and May 31, American Bitcoin mined 215 bitcoins, Wired points out. As of July 1, the company had raised $220 million from investors, which it plans to use to buy bitcoins and mining equipment.

Another major deal took place in June. First, Dominari helped an investment fund run by one of its senior executives, Soo Yu, buy a stake in money-losing toymaker SRM Entertainment Inc. Then, SRM unveiled plans to transform into Tron Inc., bringing on crypto entrepreneur Justin Sun as an adviser and building up a stash of TRX virtual tokens in another transaction handled by Dominari. The toymaker’s stock ballooned to 4.5 times what it had been.  

The rapid run-up generated steep gains for Dominari, its executive Soo Yu, and most of all the investment fund she runs, Bloomberg notes. The fund acquired its stake in May for $5 million. By July 17, it was worth $127 million.

Since the beginning of the year, the investment bank's shares have soared 580%. However, Trump-related news has made a relatively small contribution, Barron's notes. From December 31 to February 10 (the day before the company announced the Trump brothers' investment), Dominari stock had already gained 529% to $6.16 per share.

The company has just one rating from a coverage analyst, which is a "buy," according to MarketWatch. Their target price is $16 per share, implying upside of 142% versus current market quotes.

The AI translation of this story was reviewed by a human editor.