Alt5 Sigma Ousts CEO and COO Amid Trump-Linked Crypto Deal Scrutiny
Alt5 Sigma Corp., a blockchain infrastructure firm that gained attention through its ties to a Trump family crypto venture, has abruptly removed its acting CEO Jonathan Hugh and COO Ron Pitters. The Nevada-based company disclosed the leadership shakeup in a regulatory filing without citing specific reasons, stating only that the departures were unrelated to misconduct.
The MOVE follows Alt5's controversial $1.5 billion agreement in August to acquire WLFI tokens from World Liberty Financial, a project co-founded by members of Donald Trump's family. The deal grants a Trump-affiliated entity 75% of sales proceeds—a potential $500 million windfall—while transforming Alt5 into another in a growing list of small public companies pivoting from operations to crypto token accumulation.
Legal clouds loom over the arrangement. A Rwandan court recently issued a money laundering ruling involving an Alt5 subsidiary, adding scrutiny to the Trump-linked token venture. The WLFI deal's structure—where most value flows to the TRUMP entity—has drawn comparisons to promotional 'pump-and-dump' schemes that have plagued microcap crypto stocks.
