Eric Trump, the son of U.S. President Donald Trump, may no longer serve as a board member of investment company ALT5 Sigma, as part of a deal with World Liberty Financial.
According to documents submitted to the U.S. Securities and Exchange Commission (SEC) on August 25, ALT5 Sigma designated Eric Trump and World Liberty Financial co-founder Zach Folkman as board observers rather than members.
The company reported that Eric's position adjustment was "to comply with Nasdaq listing rules," pending shareholder approval.
This document appears to contradict an earlier announcement that Eric had joined the board. In a statement on August 11, ALT5 Sigma indicated it would raise $1.5 billion for World Liberty Financial's corporate treasury—this deal included Eric becoming a board director. As of the time of publication, he is still listed as a board director on the ALT5 Sigma website.
ALT5 Sigma is a Nasdaq-listed fintech company that provides cryptocurrency infrastructure services. The company originally operated under the name JanOne, focusing on biotechnology, and rebranded in mid-2024 to focus on digital assets.
According to SEC documents, as part of the deal, ALT5 Sigma received $750 million worth of WLFI tokens, 1 million shares of stock, and "prepaid warrants" to purchase up to 99 million additional shares from the cryptocurrency company.
Cointelegraph has reached out to ALT5 Sigma and World Liberty Financial for comments but has not received a response as of the time of publication.
Zach Witkoff, the son of U.S. President Middle East envoy Steve Witkoff and another co-founder of World Liberty Financial, is listed as the chairman of the ALT5 Sigma board.
Since Trump's inauguration in January, his family's wealth may have increased by billions of dollars through cryptocurrency ventures like World Liberty Financial, his personal meme coin Official Trump (TRUMP), his family-backed mining company American Bitcoin, and transactions through Truth Social's parent company, Trump Media and Technology Group.
In the past eight days, American Bitcoin shares began trading on Nasdaq, and World Liberty unlocked 24.6 billion WLFI tokens—this move valued the Trump family's token holdings at approximately $5 billion at the time.
World Liberty is facing scrutiny from some users who claim the company has locked their tokens due to the "high risk" of its cryptocurrency wallet.
One of the company's biggest supporters, Tron founder Justin Sun, reported last Thursday that after transferring 50 million WLFI tokens to cryptocurrency exchange HTX, World Liberty blacklisted his wallet address. A WLFI user has proposed bringing this matter to a governance vote.
Related: Robinhood added to the S&P 500 index, expanding cryptocurrency coverage for index investors
Original article: “Eric Trump Reduces Role at Cryptocurrency Company ALT5 Sigma”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
