Eric Trump Disappears from Alt5 Sigma Leadership Amid Growing Crypto Scandal

Eric Trump is no longer listed on the leadership page of Alt5 Sigma Corp., the Las Vegas-based company closely linked to the Trump family’s crypto operation, World Liberty Financial Inc. Until March, Eric appeared as an adviser and board observer, but by last week his name was removed entirely.

Alt5 Sigma, now rebranded as AI Financial (NASDAQ: ALTS), became entangled in the Trump crypto saga after agreeing last August to hold World Liberty tokens on its balance sheet and build a $1.5 billion crypto reserve. In exchange, World Liberty received stock and board seats at Alt5.

Originally, Eric Trump was slated to join Alt5’s board as a full director alongside Zachary Witkoff and Zak Folkman — both co-founders of World Liberty Financial and sons of prominent political figures. That plan was downgraded to a non-voting board observer role for Eric, who could attend meetings but not vote.

Meanwhile, Zachary Witkoff and Zak Folkman remain on Alt5’s board. The company recently reported a staggering $341 million loss in its latest fiscal year and warned investors it may not survive another year — a dire signal of financial instability.

The Trump family’s crypto troubles are piling up. Last month, crypto billionaire Justin Sun sued World Liberty, accusing it of extortion and illegally freezing his tokens. Eric Trump dismissed the lawsuit as “ridiculous” on social media.

Other Trump-linked crypto assets have also tanked. Shares tied to a Bitcoin mining company and the $TRUMP virtual token have both plummeted since launch, eroding investor confidence.

Adding to the controversy, Alt5 agreed to buy Block Street, a crypto infrastructure startup owned by one of its own advisers, in a deal potentially worth $43 million. The adviser denied any self-dealing, claiming Block Street has no revenue and that he had pitched it to other public companies with even higher valuations.

More alarmingly, World Liberty’s partner AB announced a collaboration less than a month after the Trump administration cracked down on a massive alleged scam network tied to the Prince Group — an Asian criminal organization accused by the Justice Department of running violent fraud compounds and enslaving workers to commit “pig butchering” scams.

Two men linked to AB’s planned blockchain-themed resort in East Timor were sanctioned by the U.S. government for their ties to Prince Group’s criminal activities. World Liberty’s lawyer denied any knowledge of the resort or the sanctioned individuals and insisted the AB deal was a limited technology integration, not a partnership.

This unraveling saga exposes how the Trump family’s crypto ambitions are mired in legal battles, financial losses, and troubling associations with criminal networks — all while Eric Trump steps back from public leadership roles as scrutiny intensifies. The crypto gamble meant to enrich the Trump clan is fast turning into a liability that demands accountability.