Eric Trump quietly removed from Alt5 Sigma board role: Report

Eric Trump is no longer joining the board of fintech firm Alt5 Sigma, despite earlier announcements tying him to the company’s $1.5 billion crypto deal with World Liberty Financial, a project co-founded by the Trump family.

The decision to remove Trump from the board was revealed in a Securities and Exchange Commission (SEC) filing, weeks after Alt5 initially stated he would serve as a director.

According to Forbes, the change came “after discussion with The Nasdaq Stock Market LLC” and was reportedly made “in order to comply with Nasdaq’s listing rules.” However, the filing did not clarify which rule prompted the revision.

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Eric Trump rung the Nasdaq bell

Eric Trump, alongside Donald Trump Jr. and World Liberty Financial executives, had rung the Nasdaq opening bell on August 13, days after Alt5 Sigma said it would raise $1.5 billion through private share sales to purchase WLFI tokens, the crypto issued by World Liberty Financial.

A Trump-affiliated LLC holds roughly 38% of World Liberty Financial and is entitled to 75% of the proceeds from the token sales.

Related: Exclusive: Trump’s crypto project security advisor reveals major reason for 272 wallet blacklistings

In the updated filing, Alt5 named Zachary Witkoff as chairman and board nominee, while “both Eric Trump and Zachary Folkman have been designated as observers.”

The filing added:

"Subject to and following the approval of the Company’s stockholders in accordance with Nasdaq’s listing rules, the Board has also approved the appointment of Zachary Folkman… as a director.”

Story Continues

Forbes noted that despite the SEC filing, Alt5’s website still listed Trump as a board director on both its leadership and investor relations pages.

The decision comes amid broader scrutiny into the Trump family's deepening crypto involvement and the financial structuring behind WLFI token sales.

TheStreet Roundtable reached out to Alt5 Sigma and World Liberty Financial for comments but did not receive a response at the time of publication.

This story was originally reported by TheStreet on Sep 9, 2025, where it first appeared in the Policy section. Add TheStreet as a Preferred Source by clicking here.

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