Eric Trump REMOVED Off The Board Of Cryptocurrency Firm

By Anthony • September 9, 2025 5:53 pm • Comments

Was politics involved?

Eric Trump who was previously selected to be on the baord of Fintech firm Alt5 Sigma will no longer be a board meber.

Previously, Alt5 Sigma boasted about having Eric Trump on its board but they have since quitely demoted him to a board adviser.

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The Independent reported more on Eric Trump’s removal:

Eric Trump will no longer serve as a director on the board of a cryptocurrency firm after the company held talks with stock market regulators despite an earlier announcement.

Fintech firm Alt5 Sigma touted that President Donald Trump’s son was joining its board of directors in an August 13 news release.

Trump rang the Nasdaq opening bell on the day of the announcement to mark a $1.5 billion crypto deal between Alt5 Sigma and World Liberty Financial, the company that is financially backed by the Trump family.

But according to a Securities and Exchange Commission filing, Trump has since been demoted to a board observer, where he can still attend meetings but doesn’t have the power of a full board director, The Street first reported.

Zachary Witkoff, the son of the president’s Middle East envoy Steve Witkoff, meanwhile, has been named chairman and board nominee of Alt5 Sigma.

The change to Trump’s position comes “after discussion with The Nasdaq Stock Market LLC” and was made “in order to comply with Nasdaq’s listing rules,” according to the commission’s filing dated August 25.

No further explanation was given in the filing and the company is yet to publicly comment. Trump, however, is still listed as a board director on Alt5 Sigma’s website.

The Block shared more details on Eric Trump’s removal:

Reportedly, Eric Trump and Folkman’s revised role comes after a conversation with Nasdaq regarding listing requirements — though no specific rule was cited in the filing. Like other crypto treasury companies, Alt5 is looking to go public, providing indirect exposure to its WLFI balance sheet holdings.

To be sure, board observers still carry weight as non-voting participants in board meetings.

Alt5 has already acquired around 7.3 billion WLFI tokens at $0.18 each — meaning it holds about $1.3 billion worth of tokens.

WLFI, which became transferable following a token holder vote in July, is currently trading around $0.19, up from the two $0.015 and $0.05 tranches in which they were initially sold.

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