ALT5 Sigma, a crypto treasury firm linked to Donald Trump through its investment in World Liberty Financial (WLFI) tokens, has carried out a major leadership overhaul. The company removed chief executive Jonathan Hugh and ended its association with chief operating officer Ron Pitters in November.
An SEC filing submitted on Wednesday confirmed that Tony Isaac, the company’s president and a member of its board, has stepped in as acting chief executive. ALT5 Sigma stated it is currently working with Hugh to agree on the terms of his departure. The firm described both exits as “without cause”. The company did not respond to requests for comment.
Treasury Strategy Centred on WLFI Tokens
ALT5 Sigma raised 1.5 billion dollars in August to create a treasury dedicated to buying WLFI tokens. The platform is a decentralised finance project that carries close ties to the Trump family. Eric Trump, son of the US president, serves on the company’s board.
The firm’s decision to hold WLFI tokens has attracted political scrutiny. Democratic lawmakers argue that the Trump family’s involvement in crypto projects poses a conflict of interest with potential national security implications.
Political Pressure Intensifies
Trump linked crypto ventures have faced rising criticism throughout the year. In November Democratic lawmakers urged Pam Bondi, the US attorney general, to open an investigation into allegations that WLFI sold tokens to sanctioned groups in North Korea and Russia.
Lawmakers have also raised concerns over claims that Trump linked crypto projects generated one billion dollars in profits. They argue that these platforms could be used to sell influence by offering access to the president.
SEC Rumours and Company Response
In August rumours circulated that venture capitalist and ALT5 shareholder Jon Isaac was under investigation by the SEC for earnings inflation and insider sales. ALT5 Sigma rejected the claims.
The company clarified that Jon Isaac had never served as its president or as an adviser. It added that it had no information about any SEC probe related to its activities.
Eric Trump reduced his involvement in the company in September after adjustments made to meet Nasdaq listing rules. An SEC filing later confirmed that he had been moved into an observer role on the board.
Future Outlook for the Firm
The leadership transition arrives at a time when regulatory pressure on crypto enterprises is intensifying in the United States. ALT5 Sigma now faces questions about its strategic direction and its continued association with WLFI, especially as scrutiny of Trump linked digital assets grows.
The appointment of Tony Isaac as acting chief executive indicates a move to stabilise internal operations while the company navigates heightened political attention.
