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Eric Trump Removed from ALT5 Sigma Board Amid Nasdaq Compliance
Eric Trump Removed from ALT5 Sigma Board Amid Nasdaq Compliance
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BTCCSquare news:
ALT5 Sigma Corporation reconfigured its board of directors to meet Nasdaq listing requirements, resulting in Eric Trump's transition from director to observer status. The August filing cited compliance needs without specifying the exact rule prompting the change. Zachary Folkman similarly shifted roles before being nominated for directorship, pending shareholder approval.
The restructuring follows a $1.5 billion financing deal with World Liberty Financial, which secured two board nomination rights. ALT5's acquisition of 7.5% of WLFI tokens transformed the firm into a crypto treasury vehicle supporting the Trump-affiliated project. Zachary Witkoff retains his position as board chairman amid these strategic pivots.
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