Eric Trump has been quietly scrubbed from the public leadership of a small financial technology company closely tied to his family’s cryptocurrency venture.
As recently as March, the president’s second-oldest son was listed on the leadership page of Alt5 Sigma Corp., a Las Vegas-based firm that shot to national prominence last year after it began stockpiling tokens from World Liberty Financial, the Trump family’s crypto venture.
By last week, though, his name was gone. The move comes as the Trump crypto empire faces mounting legal and financial turmoil.
The company, which announced it would rebrand as AI Financial Corp., has been contacted for comment. A World Liberty spokesman called Eric Trump “a highly visible and active co-founder at World Liberty Financial” but did not address his status at Alt5.
The company framed Trump’s joining as “broadening ALT5’s access to new networks and markets.”
The disappearance comes as World Liberty faces its most serious legal challenge to date. Crypto billionaire Justin Sun sued the company this month in California federal court, accusing it of extortion and illegally freezing his digital tokens.
Sun, who became the project’s first major investor shortly after President Trump’s re-election, alleged that company managers “see the project as a golden opportunity to leverage the Trump brand to profit through fraud.” He claims the frozen tokens cost him $276 million in potential gains. Eric Trump called the lawsuit “ridiculous” in a post on X.
Alt5’s own finances paint a troubling picture. Shares in the company have shed roughly 90 percent of their value since it announced the World Liberty token stockpile last August. The firm lost more than $341 million in its most recent fiscal year and warned investors it had “substantial doubts” about its ability to stay afloat another year. As of December, it had 16 employees.
Eric Trump’s role at the company had already been diminished before his removal from the website. Originally slated to become a board director—alongside World Liberty co-founders Zachary Witkoff, son of presidential envoy Steve Witkoff, and Zak Folkman— he was instead appointed a board observer, a position that allows attendance at board meetings without voting rights. Witkoff and Folkman remain listed as board members.
The company’s pivot to AI and tokenization is not its first identity crisis. Before crypto, Alt5 worked in appliance recycling and opioid alternatives.
It has also cycled through three auditors, and a Canadian subsidiary, along with a former executive, were found criminally liable in a money laundering case in Rwanda—a finding both are appealing, claiming they were victims of fraud.
The leadership picture inside the company has been no more stable. Alt5 burned through three CEOs in roughly six weeks late last year, suspending its chief executive in October before installing its CFO as acting CEO, removing him weeks later “without cause,” and watching its chief operating officer exit shortly after. A special committee set up to investigate unspecified internal matters completed its work and was dissolved, with findings delivered to the board.
Other Trump crypto ventures have fared little better. Shares of a Trump-linked bitcoin mining company and the $TRUMP virtual token have both plunged since launch. CoinDesk reported in November that Alt5 holds roughly $1.3 billion worth of WLFI tokens.
