Latest news with #ALT5Sigma
Business Wire
9 hours ago
- Business
- Business Wire
ALT5 Sigma Corporation Appoints Jonathan Hugh as CFO
LAS VEGAS--(BUSINESS WIRE)--ALT5 Sigma Corporation (NASDAQ: ALTS)(FRA: 5AR1) (the 'Company' or 'ALT5'), a fintech and digital asset treasury (DAT) company specializing in turnkey, crypto-related solutions for institutions and merchants, today announced the appointment of industry veteran Jonathan Hugh as CFO of the company. Following ALT5 Sigma's recently announced $1.5 billion financing and the launch of the company's $WLFI Treasury Strategy, we are pleased to announce the appointment of Jonathan Hugh as Chief Financial Officer. His appointment further strengthens the company's leadership team at a pivotal stage in its growth. 'Jonathan is a highly accomplished senior executive with deep international experience across digital assets, commodity trading, and technology,' said Peter Tassiopoulos, CEO of ALT5 Sigma. 'His proven ability to scale high-growth businesses, combined with his expertise in financial strategy and global markets, will be invaluable as we accelerate the global expansion of our Crypto-as-a-Service platform and advance our $WLFI treasury initiatives.' Jonathan brings over 25 years of senior finance and commercial leadership experience in Digital Assets, Technology, Energy, and Commodities Trading, working with both public and private companies ranging from large-cap multinationals to agile high-growth ventures. He previously served as CFO of leading digital asset firms GSR International Ltd, a global market maker, and Zodia Custody Ltd, a regulated institutional custodian. Throughout his career, he has led numerous M&A transactions, executed multiple growth strategies and built robust financial control, compliance and reporting systems to support rapid innovation. Jonathan is a member of the Institute of Chartered Accountants of England and Wales and holds an MA in Law from Cambridge University. His appointment underscores ALT5 Sigma's commitment to attracting world-class leadership talent to drive execution of its strategic vision and deliver long-term value for shareholders. About ALT5 Sigma ALT5 Sigma Corporation (NASDAQ:ALTS)(FRA:5AR1) or (the 'Company') is a fintech, providing next generation blockchain-powered technologies for tokenization, trading, clearing settlement, payment and safe keeping of digital assets. Since June of 2025, the Company has been a member of the Russell Microcap Growth ®, Russell 3000E ®, and Russell 3000E Growth ® Indexes, as part of the 2025 Russell indexes reconstitution. The Company had previously been included in the Russell Microcap ® Index since June of 2024. The Company recently initiated a $WLFI Treasury Strategy, leveraging a portfolio of digital assets as a strategic component of its balance sheet. This initiative is designed to generate long-term value through disciplined acquisition and deployment of digital assets, while showcasing the Company's capabilities in digital asset payment solutions. The strategy not only strengthens the Company's financial position but also demonstrates the practical, institutional-grade application of its next-generation technology stack in real-world treasury operations. Founded in 2018, the Company provides next-generation blockchain-powered technologies to enable a migration to a new global financial paradigm. The Company, through its subsidiaries, offers two main platforms to its customers: 'ALT5 Pay' and 'ALT5 Prime.' ALT5 Sigma has processed over $6 billion USD in cryptocurrency transactions since inception. ALT5 Pay is an award-winning cryptocurrency payment gateway that enables registered and approved global merchants to accept and make cryptocurrency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants have the option to convert to fiat currency(s) automatically or to receive their payment in digital assets. ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named 'ALT5 Pro' that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime's FIX API, as well as through Broadridge Financial Solutions' NYFIX gateway for approved customers. The Company is working on the separation of its biotech business that will move forward under 'Alyea Therapeutics Corporation.' Through its biotech activities, the Company is focused on bringing to market drugs with non-addictive pain-relieving properties to treat conditions that cause chronic or severe pain. The Company's patented product, a novel formulation of low-dose naltrexone (JAN123), is being initially developed for the treatment of Complex Regional Pain Syndrome (CRPS), an indication that causes severe, chronic pain generally affecting the arms or legs. The FDA has granted JAN123 Orphan Drug Designation for treatment of CRPS. About World Liberty Financial World Liberty Financial (WLFI) is a pioneering decentralized finance (DeFi) protocol and governance platform dedicated to empowering individuals through transparent, accessible, and secure financial solutions. Inspired by the vision of President Donald J. Trump, WLFI seeks to democratize access to DeFi by creating user-friendly tools that bring the benefits of decentralized finance to a broader audience. WLFI plans to be at the forefront of DeFi, offering an intuitive, robust platform that empowers users to participate actively in the financial future. Forward-Looking Statements This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the expected use of proceeds from the Offerings, the Company's expectation to initiate its $WLFI Treasury Strategy, the profitability and prospective growth of ALT5's platforms and business that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5's services, and technology challenges for future growth or expansion, and statements regarding the Company's potential separation plans of its biotech business. This press release also contains general statements relating to risks that the Company's potential separation plans of its biotech business and the potential for JAN123 to treat CRPS, and other statements, including words such as 'continue', 'expect', 'intend', 'will', 'hope', 'should', 'would', 'may', 'potential', and other similar expressions. Such statements reflect the Company's current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies. This press release also contains statements that are forward-looking in respect of the expected future partial or full disposition of the Company's interests in Alyea without specificity of the scope or methods thereof. Many factors could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company's periodic reports filed with the Securities and Exchange Commission (the 'SEC'). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled 'Risk Factors' in the Company's filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
Yahoo
a day ago
- Business
- Yahoo
Trump-Backed Crypto Token WLFI Has a Treasury Company. Here's What That Means.
Key Takeaways A company called ALT5 Sigma plans a treasury that will hold Trump-backed World Liberty Financial's tokens. The move is reminiscent of how Strategy was transformed into a bitcoin proxy stock after its then-CEO, now chairman, Michael Saylor, initiated its bitcoin-buying spree. WLFI tokens, previously non-transferable, are expected to start trading as soon as end of the month. There are Bitcoin treasuries. There are ether treasuries. And, now, there's a WLFI treasury. A stock-and-token deal announced earlier this week will effectively turn a publicly traded company into a proxy for the Trump family-backed World Liberty Financial coin, known as "WLFI." ALT5 Sigma (ALTS), originally a health-tech company, raised $1.5 billion, selling 200 million new and existing shares, with some of the proceeds earmarked to acquire WLFI from World Liberty Financial. ALT5 plans to adopt a WLFI-specific treasury strategy, holding roughly 7.5% of the coin's total supply, according to a press release. World Liberty Financial was the lead investor of ALT5's share sale, with the latter company revealing in a filing that it received $750 million of WLFI from the Trump-backed crypto project in exchange for shares of ALT5 in a private placement. It's the latest example of the move toward companies seeking to become treasuries of digital assets, holding them in substantial quantities whether for appreciation or as an alternative to other balance-sheet assets—reminiscent, though at a smaller scale, of how Michael Saylor turned his enterprise software company into a proxy for bitcoin, the world's largest cryptocurrency. Strategy (MSTR) now holds close to 630,000 BTC. While bitcoin and ether are more commonly held, the ALT5 investment is one of several recent signals that some companies are looking elsewhere. World Liberty in October tried to raise $300 million in a token sale but was met with a lukewarm reception. On Tuesday, following the raise, Eric Trump, son of President Donald Trump, joined the ALT5 board of directors, while World Liberty Financial cofounder Zach Witkoff joined as chairman. Witkoff is the son of Trump-appointed Middle East special envoy Steve Witkoff. There is a 100 billion-token supply of WLFI, which was deemed non-transferable when it was launched. World Liberty Financial in mid-July said trading in the token could start as soon as the end of this month after a community vote agreed to it. Traders interested in WLFI should exercise caution. Copycat coins—including one called "Wen Lambo Financial"—have sprung up on various exchanges using the same symbol. Shares of the micro-cap ALT5, meanwhile, vaulted higher Wednesday. Read the original article on Investopedia
Yahoo
2 days ago
- Business
- Yahoo
Don Jr says his family got into crypto after banks refused to do business after Jan 6 ‘nonsense'
Donald Trump Jr. says his family 'didn't have a choice' but to get into crypto because banks didn't want to do business with them after January 6, 2021, referring to the deadly attack on the U.S. Capitol as 'all the nonsense.' 'We got into crypto because we didn't have a choice,' the president's eldest son said on Fox & Friends Wednesday morning while discussing his family's cryptocurrency business's $1.5 billion digital coin deal. The Trump family's crypto business, World Liberty Finance, announced Monday that technology firm ALT5 Sigma would make a big purchase of its digital coin, $WLFI. ALT5 said it would sell $1.5 billion worth of shares, then use that money to purchase the Trump signature digital coin, which the family founded last year. 'Every major banking institution, the people that, two weeks before we were debanked, we could've called and gotten a loan in five seconds. They disappeared. We were left high and dry,' he said. 'Basically, during the first term, certainly after the…let's call it January 6… all the nonsense, it got significantly worse,' he said, referring to the deadly mob of his father's supporters who stormed the Capitol in an attempt to overturn the 2020 presidential election results. Five people, including one police officer, died and several more were injured when the pro-Trump mob breached the Capitol building. The president granted roughly 1,500 people convicted of January 6-related crimes pardons immediately after taking office in January. 'We weren't even early crypto guys, but we figured, if they can debank the Trump Organization, if they can debank us, who can't they go after? And more importantly, who won't they go after?' he continued. Trump Jr. said that instead of going home and 'go cry in a corner,' they decided to launch World Liberty Financial, which he described as the future of banking. 'What we're doing with World Liberty Financial, I think, is going to shake up the entire banking system. It is literally the future of finance,' he said. Joining Trump Jr. on the segment was his brother, Eric Trump, and World Liberty Financial's co-founder and CEO Zach Witkoff, who said they were looking to 'democratize' the financial system. 'Put power back in the hands of the people, instead of the big boogy man behind the curtain,' Witkoff said. Following the Fox appearance, the three men went to ring Nasdaq's opening bell to celebrate the closing of ALT5's $1.5 billion offering. Sign in to access your portfolio
Gizmodo
2 days ago
- Business
- Gizmodo
The Trump Family's Crypto Empire Is Expanding—Fast
The Trump family's crypto empire is making another major move on Wall Street. World Liberty Financial, the crypto firm founded by the Trump family last September, has struck a massive deal that will see a publicly traded fintech company, ALT5 Sigma, purchase up to $1.5 billion of the family's proprietary cryptocurrency, $WLFI. The deal is a landmark event that further intertwines the Trump family's private business ventures with President Donald Trump's increasingly pro-crypto government policies, a move made amidst an continuing conversation about the ethics or legality of such crossover. According to filings with the Security and Exchange Commission, ALT5 Sigma plans to sell $1.5 billion of its own shares and use the proceeds to buy the $WLFI token, which it will then hold on its corporate balance sheet. The deal also installs key Trump allies on ALT5's board: Eric Trump will become a board member, and Zach Witkoff, a World Liberty co-founder and son of a presidential advisor, will become the new chairman. Witkoff celebrated the move on X, calling it 'Another historic milestone for @worldlibertyfi with @ALT5_Sigma.' Another historic milestone for @worldlibertyfi with @ALT5_Sigma $ALTS announcing plans for a major $WLFI treasury strategy. Thrilled to be joining the board as Chairman working alongside @EricTrump @zakfolkman. ☝️🦅 @MatthewMorgan23 @WatcherChase — Zach Witkoff (@ZachWitkoff) August 11, 2025Eric Trump was equally enthusiastic: 'I am excited to join the Board of ALT5 Sigma and help lead the way in revolutionizing the digital asset space! @DonaldJTrumpJr and I are deeply committed to the success of this company and its innovative approach.' Breaking: I am excited to join the Board of ALT5 Sigma and help lead the way in revolutionizing the digital asset space! @DonaldJTrumpJr and I are deeply committed to the success of this company and its innovative approach. $ALTS — Eric Trump (@EricTrump) August 12, 2025This deal is a new twist on a growing trend in the crypto world: the corporate treasury strategy. A crypto treasury is when a company decides to hold cryptocurrency instead of dollars, euros, or other traditional assets. For example, if Apple decided to keep billions in Bitcoin rather than cash in its corporate reserves, that would be a Bitcoin treasury strategy. This idea has grown into a broader vision called DeFi (decentralized finance), where companies raise money, pay investors, and track assets entirely on blockchains, without the big banks. These assets can be 'programmable' (rules are built into the code), instantly traceable, and theoretically easier to trade. The pioneer of this strategy is MicroStrategy (recently renamed 'Strategy'), which turned itself from a software company into a massive Bitcoin holding vehicle. While some hail it as genius, others, like famed short-seller Jim Chanos, call it a risky stunt. The ALT5 Sigma deal takes the treasury strategy a step further. Instead of buying a decentralized, globally recognized asset like Bitcoin, the company is using its funds to buy a new, proprietary token controlled by the First Family. The Trump administration has been aggressively pushing pro-crypto policies. With legislation like the 'Genius Act' providing regulatory clarity and an executive order paving the way for crypto in 401(k) retirement plans, the U.S. has swung from cautious to actively championing digital assets. This has led critics to raise serious concerns about an unprecedented conflict of interest. The president is enacting regulations that directly create a more favorable and lucrative market for his own family's financial products. Trump himself earned $57.4 million last year from his ownership of tokens tied to World Liberty Financial, according to his June 2025 ethics disclosure. The family's crypto empire also includes the $TRUMP meme coin, which, while not officially affiliated, has generated hundreds of millions of dollars in value tied directly to his brand. For now, the family is pushing forward with its plans to take its own token mainstream. 'The WLFI community has voted overwhelmingly to make the token tradable, and the WLF team is already hard at work making this happen,' Eric Trump explained. 'Once tradable, we expect that the WLFI token will soon become available on all major centralized exchanges as well as decentralized exchanges.' Once tradable, we expect that the WLFI token will soon became available on all major centralized exchanges as well as decentralized exchanges. WLFI is setting the stage for global governance accessibility and liquidity. — Eric Trump (@EricTrump) August 12, 2025Crypto is undeniably used by some for criminal activity. But the Trump administration's warm embrace of digital assets, combined with family-linked ventures like World Liberty Financial, has opened the floodgates for Wall Street and corporate America to pile in. The question is whether this marriage of politics, policy and profit is legal or will be sustainable, or if it's the setup for one of the most dramatic busts in financial history.
The Independent
2 days ago
- Business
- The Independent
Don Jr says his family got into crypto after banks refused to do business after Jan 6 ‘nonsense'
Donald Trump Jr. says his family 'didn't have a choice' but to get into crypto because banks didn't want to do business with them after January 6, 2021, referring to the deadly attack on the U.S. Capitol as 'all the nonsense.' 'We got into crypto because we didn't have a choice,' the president's eldest son said on Fox & Friends Wednesday morning while discussing his family's cryptocurrency business's $1.5 billion digital coin deal. The Trump family's crypto business, World Liberty Finance, announced Monday that technology firm ALT5 Sigma would make a big purchase of its digital coin, $WLFI. ALT5 said it would sell $1.5 billion worth of shares, then use that money to purchase the Trump signature digital coin, which the family founded last year. 'Every major banking institution, the people that, two weeks before we were debanked, we could've called and gotten a loan in five seconds. They disappeared. We were left high and dry,' he said. 'Basically, during the first term, certainly after the…let's call it January 6… all the nonsense, it got significantly worse,' he said, referring to the deadly mob of his father's supporters who stormed the Capitol in an attempt to overturn the 2020 presidential election results. Five people, including one police officer, died and several more were injured when the pro-Trump mob breached the Capitol building. The president granted roughly 1,500 people convicted of January 6-related crimes pardons immediately after taking office in January. 'We weren't even early crypto guys, but we figured, if they can debank the Trump Organization, if they can debank us, who can't they go after? And more importantly, who won't they go after?' he continued. Trump Jr. said that instead of going home and 'go cry in a corner,' they decided to launch World Liberty Financial, which he described as the future of banking. 'What we're doing with World Liberty Financial, I think, is going to shake up the entire banking system. It is literally the future of finance,' he said. Joining Trump Jr. on the segment was his brother, Eric Trump, and World Liberty Financial's co-founder and CEO Zach Witkoff, who said they were looking to 'democratize' the financial system. 'Put power back in the hands of the people, instead of the big boogy man behind the curtain,' Witkoff said. Following the Fox appearance, the three men went to ring Nasdaq's opening bell to celebrate the closing of ALT5's $1.5 billion offering.
