President Donald Trump’s son Eric no longer appears on the leadership webpage for Alt5 Sigma Corp., a fintech company closely linked to his family’s World Liberty Financial crypto venture, though reasons for his removal are unclear, Bloomberg first reported Thursday morning.
Eric Trump's name no longer appears on Alt5 Sigma's leadership webpage, Bloomberg first reported Thursday. (Photo by Vernon Yuen / AFP) (Photo by VERNON YUEN/AFP via Getty Images)
AFP via Getty Images
Eric Trump was listed as a board observer and an adviser for Alt5 Sigma Corp., a Las Vegas-based fintech company that recently rebranded as AI Financial Corp., as recently as March, Bloomberg reported.
Alt5 Sigma Corp. entered a partnership with the Trump-founded World Liberty Financial in August, striking a deal in which the company purchased $1.5 billion worth of World Liberty Financial crypto tokens.
Neither Trump nor Alt5 Sigma Corp. have commented on his removal, but World Liberty Financial spokesperson David Wachsman told Bloomberg Trump is a “highly visible and active co-founder at World Liberty Financial” (Forbes has reached out for comment).
The reasons for Trump’s removal from Alt5 Sigma Corp.’s leadership page, and whether he has any continued role at the company, are unclear, but the apparent change comes days after Forbes reported Trump’s crypto ventures have lost investors hundreds of millions of dollars, and as World Liberty Financial faces a lawsuit from a high-profile billionaire investor.
World Liberty Financial launched in 2024, co-founded by a handful of members from the Trump family, including Eric, Donald Jr. and Barron, while President Donald Trump is listed as a co-founder emeritus. The company says it is “inspired by the vision of Donald J. Trump” and aims to “democratize” access to crypto. A Trump-linked LLC gets about 75% of the profits when World Liberty Financial sells tokens, Forbes previously reported. Last year, after Alt5 Sigma and World Liberty Financial entered a partnership, Eric Trump had been slated to join Alt5 Sigma as a board member, though Forbes reported the company said it would no longer add Trump to the board after discussions with Nasdaq to comply with its listing rules. Instead, Trump joined the company as an adviser and board observer.
Last week, billionaire Justin Sun sued World Liberty Financial more than a year after he invested $45 million in the venture, alleging the crypto business is conducting an “illegal scheme” to freeze his funds and strip him of his right to vote on governance proposals. Sun said the Trump family’s ties to the company were a primary reason he invested, but alleged the company is trying to “leverage the Trump brand to profit through fraud.” Sun, in a post on X shortly after filing his suit, said his allegations do not “change how I feel about President Trump or the Trump Administration,” but “certain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump’s values.” Eric Trump called Sun’s lawsuit “more ridiculous” than “spending $6 million on a banana duct-taped to a wall,” referring to Sun infamously purchasing a banana for millions of dollars in 2024.
Eric Trump’s other crypto business, American Bitcoin, has enriched him, but cost investors hundreds of millions of dollars, Forbes reported earlier this week. When American Bitcoin was publicly listed in September, the company was valued at $13.2 billion, and Trump has since boosted his personal net worth from $190 million to $280 million, according to Forbes estimates. But Forbes reported American Bitcoin has cost investors $500 million, and its stock price is down 92% from its peak.
How Eric Trump Got Rich From Bitcoin While Losing Investors A Fortune (Forbes)
Crypto Billionaire Justin Sun Sues Trump’s World Liberty Financial—After Investing $45 Million (Forbes)
此内容由惯性聚合(RSS阅读器)自动聚合整理，仅供阅读参考。 原文来自 — 版权归原作者所有。