Overview

• Alt5 Sigma’s SEC filing says that after discussions with Nasdaq, Eric Trump will serve as a board observer rather than director, with World Liberty Financial cofounder Zak Folkman slated for a director seat pending shareholder approval and Zachary Witkoff named chairman and board nominee.
• Alt5 plans to buy about $1.5 billion of WLFI tokens; based on recent prices, its 7.3 billion‑token stake appreciated by roughly $210 million in under a month, though the company’s website still lists Eric Trump as a director despite the filing.
• World Liberty Financial’s WLFI token began broader trading on September 1 as a protocol governance asset rather than equity, while roughly 22.5 billion founder tokens tied to the Trumps remain locked and excluded from some wealth tallies.
• Recent transactions and listings produced about $1.3 billion in paper gains for the Trump family, including roughly $670 million tied to the Alt5–WLFI arrangements and an American Bitcoin stake for Eric Trump that topped $500 million during ABTC’s volatile debut.
• WLFI has faced backlash over reported wallet freezes, and Alt5’s filing also disclosed a Rwandan court ruling against a former principal plus a U.S. bankruptcy‑related complaint, developments that have intensified scrutiny of disclosures and governance.