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Crypto firm linked to Trumps plans $100M buyback
['Melos Ambaye']
The Latest
Alt5 Sigma Corp., a thinly traded financial-technology firm with ties to a Trump family crypto venture, authorized a share buyback of up to $100 million, enough to repurchase as many as 50 million shares.
Alt5 also said it plans to acquire additional WLFI tokens from World Liberty Financial Inc., a crypto firm co-founded by members of President Donald Trump's family, and has entered into a $15 million debt-financing agreement it expects to close in the coming days.
Alt5 drew national attention in August after unveiling a $1.5 billion strategy to accumulate Trump-linked digital tokens, disclosing holdings of about 7.3 billion of the WLFI tokens.
Eric Trump, a co-founder of World Liberty Financial, became a board observer, while Zach Witkoff, a co-founder and son of presidential envoy Steve Witkoff, was named chairman.
In November, it dismissed some senior executives, including then-Chief Financial Officer and Acting Chief Executive Officer Jonathan Hugh and Chief Operating Officer Ron Pitters.