Eric Trump's Exit Rocks ALT5 Sigma: WLFI Token Plunges 7%

The cryptocurrency market is abuzz following the departure of Eric Trump from the board of ALT5 Sigma, a World Liberty Financial Treasury company. This high-profile exit has sent shockwaves through the market, causing the WLFI token, issued by World Liberty Financial, to immediately dip by 7% and fall below the critical $0.20 threshold.

The Departure and Its Immediate Aftermath

Eric Trump's stepping down was formally announced via a Securities and Exchange Commission (SEC) filing, a mere few weeks after his initial appointment as a director. While the SEC filing did not disclose specific regulatory reasons for his departure, sources indicate that the decision was made in consultation with The Nasdaq Stock Market LLC to ensure compliance with its listing rules, which often require a majority of independent board members. This raises questions about the perceived independence of Trump's position, especially given the lack of transparency surrounding the specific regulations that prompted this move.

Ongoing Market Instability and Unanswered Questions

Following the initial decline, the WLFI price further deteriorated, falling to $0.1961 and marking a 14% decrease over the past seven days. This stands in stark contrast to its all-time high of $0.33, achieved on September 1st, the very day the token launched on major exchanges after months of anticipation. Curiously, despite the official SEC filing, ALT5 Sigma's official website still lists Eric Trump as a board director on both its leadership and investor relations pages, adding to the confusion. This development coincides with the company's recent announcement of a significant $1.5 billion fundraising initiative, aiming to acquire WLFI tokens through private share sales.