Alt5 Sigma Drops Eric Trump from Board to Meet Nasdaq Rules
Alt5 Sigma, a treasury firm with ties to the Trump family, announced the removal of Eric Trump—former President Donald Trump’s second son—from his director position at the beginup.
The company disclosed that the decision followed a review and discussions with Nasdaq officials. In its statement, Alt5 Sigma noted that the issue was tied to compliance with Nasdaq’s listing requirements according to The Street.
The firm stated: “later than discussion with The Nasdaq Stock Market LLC (‘Nasdaq’), and in order to comply with Nasdaq’s listing rules.”
This marks a major reversal from Alt5 Sigma’s earlier stance. Just weeks ago, the firm had appointed Eric Trump as a director, alongside Zak Folkman, who joined as a board observer. Following Nasdaq’s intervention, however, Trump will now serve only as an observer, while Folkman assumes the director role, according to the company’s SEC filing.
Additionally, Zachary Witkoff was appointed as chairman and board nominee. Despite these changes, the company’s website still lists Eric Trump as a director. Alt5 Sigma has yet to issue a public statement beyond its regulatory filing.
World Liberty Finance, Alt5 Sigma Relationship
Alt5 Sigma operates as one of the treasury firms used to acquire World Liberty Finance’s (WLFI) native token.
World Liberty Finance, launched in 2024 by Donald Trump and his three sons, has become a notable crypto entity. The acquisition strategy reflects a growing trend of corporate institutions investing in digital assets.
On August 13, , using the funds to purchase WLFI from the market. WLFI later began trading on leading cryptocurrency platforms, including Binance and Upbit, reaching a $30 billion valuation at launch.
Several asset managers, including , have taken indirect positions in WLFI through holdings in Alt5 Sigma, signaling institutional interest in the Trump-backed project.
Eric Trump and the Trump Family’s Crypto Ties
Since Donald Trump’s presidency, the family’s net worth has significantly increased, with growing involvement in crypto markets. Trump himself has championed the industry, signing landmark policies such as the GENIUS Act, which legalized stablecoins and introduced a regulatory framework for digital assets.
Eric Trump has been one of the most vocal supporters. He and continues to hold key roles in several blockchain ventures.
He currently serves as co-founder and Chief Strategy Officer of American BTC Corp. (Nasdaq: ABTC), a publicly listed company aiming to rival MicroStrategy’s BTC acquisition strategy.
Eric has repeatedly expressed strong bullish views on BTC, predicting that the asset could reach $1 million in the near future.
