ALT5 Sigma, a crypto treasury company tied to World Liberty Financial (WLFI) — a token project linked to the Trump family — has announced the firing of two of its top executives amid growing scrutiny surrounding both the firm and its political associations.
The Nevada-based company confirmed in recent filings that CEO Jonathan Hugh and chief operating officer Ron Pitters departed in November as part of a rapid leadership overhaul, with both exits described as “without cause.” with no additional given for their termination.
Tony Isaac, the firm’s president and long-time board director, has stepped in as acting CEO while ALT5 finalizes Hugh’s departure terms. The shakeup comes just months after ALT5 committed $1.5 billion to purchase WLFI tokens as the cornerstone of its new crypto treasury strategy, placing the company at the center of one of the most politically sensitive blockchain initiatives in the United States.
Eric Trump, son of President Donald Trump, briefly served as a director before transitioning into a board observer role to comply with Nasdaq listing guidelines. The company’s alignment with WLFI has attracted intense attention from Democratic lawmakers, who argue that the Trump family’s involvement in token issuance raises conflict-of-interest and national-security concerns, particularly as WLFI markets itself as a decentralized finance platform while maintaining deeply political ties.
This move comes after one of ALT5's shareholders, Jon Isaac, was rumoured to have been under investigation by the SEC for earning inflation and insider sales.
World Liberty Financial later distanced itself from Jon, saying he has no knowledge of the investigation
"For the record: Jon Isaac is not, and never was the president of ALT5 Sigma, and he is not an advisor to the company. The company has no knowledge of any currency investigation regarding its activities by the US SEC."
WLFI’s token price has meanwhile declined amid the heightened scrutiny, underscoring the market’s growing anxiety over both regulatory pressure and corporate instability.
Behind the corporate reshuffling lies a deeper set of legal challenges tied to WLFI and entities associated with the Trump family. A subsidiary connected to World Liberty Financial was ruled criminally liable for money laundering in Rwanda earlier this year, a decision that also found an ALT5-linked principal guilty in the same case.
The company maintains that both the subsidiary and the executive have appealed the ruling, asserting they were victims of an external fraud scheme.
Even so, ALT5 has acknowledged that its board was not informed of the Rwandan case until months after the decision — a revelation that further destabilized internal governance and preceded the unexplained suspension of former CEO Peter Tassiopoulos in October.
Political pressure escalated again in November when Democratic lawmakers urged U.S. Attorney General Pam Bondi to investigate allegations that WLFI had sold tokens to sanctioned entities in Russia and North Korea.
Legislators warned that the Trump family’s crypto ventures — which they claim have generated over $1 billion in profits — could create avenues for illicit financial activity and allow foreign actors to purchase political access.
The structure of ALT5’s agreement with WLFI has also drawn attention, as a Trump-affiliated entity stands to receive 75% of all token sale proceeds, a revenue share that could exceed $500 million if WLFI adoption accelerates.
Despite the mounting concerns, World Liberty Financial has downplayed the leadership upheaval and regulatory pressure, with spokesperson David Wachsman saying that “the filing speaks for itself” and expressing continued confidence in ALT5’s future direction.
Yet the combination of executive turnover, legal exposure, and political inquiry has placed both companies under an increasingly harsh spotlight, raising questions about governance, transparency and the broader implications of intertwining high-profile political families with emerging crypto-financial systems.
Cointelegraph and CoinMarketCap were hacked through front-end attacks that showed fake airdrop pop-ups to steal users’ crypto. The scams tricked visitors into connecting wallets, letting attackers drain funds using hidden malicious code.
AnaisTelegram shut down two major Chinese-language crypto scam markets, but over 30 smaller ones quickly appeared to take their place. One of them, Tudou Guarantee, is now handling millions in daily crypto transactions and openly offers illegal services without Telegram taking further action.
WeatherlyA scammer posed as Coinbase support and tricked over 30 users into transferring a total of $4 million in crypto to fake wallets. The fraud was carried out through phone calls and Discord chats, with funds later traced to gambling sites and linked to a man named Christian Nieves.
AnaisUS Senator Adam Schiff has proposed a bill to stop public officials, including the president, from making money through crypto while in office. The move follows reports that President Trump gained millions from his family’s crypto ventures, including a stablecoin and memecoin.
WeatherlyHackers used Trezor’s support form to send fake emails that looked like official messages, tricking users into revealing their wallet backups. Trezor confirmed its systems weren’t breached and warned users never to share their recovery phrases.
AnaisMastercard and Chainlink have teamed up to let over 3 billion cardholders buy crypto directly on-chain using their bank cards. The system is already live and involves several partners to handle payments, compliance, and crypto swaps.
JoyLedger has launched a new offline backup tool called the Recovery Key, which helps users regain access to their wallets without using the internet or cloud services. It works by tapping a smart card to a Ledger device and entering a PIN, offering a more private way to recover crypto access.
WeatherlyLedger released a new offline tool called Recovery Key to help users safely restore access to their crypto wallets without using the internet. It works by tapping a secure card on a Ledger device and entering a PIN, offering a private backup option.
AnaisEight major South Korean banks plan to launch a won-backed stablecoin to reduce reliance on dollar-pegged tokens in the country. They are reviewing two possible models and aim to roll out the digital currency by late 2025 or early 2026.
WeatherlyOpenAI and Microsoft are facing tensions over Microsoft’s investment stake as OpenAI plans to shift from a non-profit to a commercial structure. Talks could stall if they fail to agree on terms, which may impact future funding and their partnership.
Anais