CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

Trump-associated ALT5 Sigma down 96% since WLFI deal

Protos logo

Published on

Add as a preferred source on Google
Trump-associated ALT5 Sigma down 96% since WLFI deal

ALT5 Sigma, the WLFI digital asset treasury firm where Eric Trump was a board observer, fell 96% after its deal with WLFI was announced on Friday.

Specifically, the firm, which is operated by AI Financial Corporation, saw its stock price fall from $8.97 before the deal was announced to $0.35.

Trump’s role at this firm isn’t the only link between the two entities. World Liberty co-founder Zachary Folkman is a director at ALT5 Sigma, while Zach Witkoff, World Liberty’s chief executive officer, is its chairman.

Not only this, Witkoff’s father, Steve Witkoff, is Donald Trump’s special envoy to the Middle East.

ALT5 Sigma’s stash of WLFI tokens were unlocked in August, making them transferrable.

ALT5 Sigma was also mentioned in an indictment several months ago when it was serving as the virtual asset service provider for Mugan Markets, a foreign exchange brokerage.

The indictment doesn’t allege misconduct on the part of ALT5 Sigma, and it’s mentioned purely as a service provider.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.



Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.