Scoop: They tried to bury this news on Black Friday, but, well...
Trump crypto partner Alt5 Sigma told the SEC its auditor quit in Nov.
We called the auditor.
He resigned in August.
That's the second SEC filing with an apparent conflict that Alt5 Sigma has made in recent weeks.
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#news #uspol #trump #alt5sigma #WLFI $alts $wlfi
That other apparent conflict?
Alt5 Sigma told the SEC that it suspended its CEO in mid-October.
An internal email, though, says he was placed on “temporary leave” more than a month earlier.
From Nov. 21 —
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And that comes on the heels of yet more intrigue—
📆 Aug 11: Alt5 Sigma announces "Eric Trump will become a director on its board of directors."
📆 Aug. 25: Alt5 Sigma tells the SEC that, after consulting with Nasdaq, to comply with its rules, Eric Trump will now be just a board observer
🤔
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Why care about Alt5 Sigma?
🔥 It acquired $1.5B of tokens—with no inherent value—from the Trump's World Liberty Financial.
🔥 WLF owns 1M shares in Alt5, plus warrants for another 99M.
🔥WLF co-founder Zach Witkoff is Alt5 Sigma's chair.
🔥 WLF co-founder Zak Folkman also on the board.
🔥 Eric.
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And how's that working out for Alt5 Sigma?
🤕 What was $1.5B of $WLFI is now $1.1B.
🤕 Stock, $ALTS, is trading at $1.70 — down ~80% since deal was announced.
🤕 Market cap is 1/5 the value of its $WLFI treasury.
🤕 CEO suspended, acting CEO/CFO fired, COO fired, CRO suspended, director quit
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And then there's this—
Alt5 Sigma is yet to file its Q3 report.
It told the SEC the delay was partly due to the “timeliness and responsiveness” of its accountant.
When asked who its accountant was at the time of the filing, an Alt5 Sigma spokesperson said, “We have no comment at this time.”
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Zach Everson
Jeffandthekid
Guillotine Jones, Flâneur