Eric Trump has stepped down as director of Alt5 Sigma, the cryptocurrency unit of World Liberty Financial, and will now serve as a board observer. Meanwhile, Zak Folkman, co-founder of WLFI, has been appointed as the new director.
Changes in Alt5 Sigma Leadership
Eric Trump has been removed from the board of directors of Alt5 Sigma following discussions with Nasdaq about compliance with its listing rules. The decision to change his role to a board observer aims to ensure the company’s governance aligns with Nasdaq's standards.
Zak Folkman Appointed as New Director
Zak Folkman, COO and co-founder of World Liberty Financial, has been appointed to replace Eric Trump as director of Alt5 Sigma. This change comes as the company prepares for a $1.5 billion fundraising plan, including direct share sales for digital token acquisitions.
Impact of Changes on the Market and $WLFI Token
Despite the leadership changes, there has been no significant impact on major cryptocurrencies such as ETH and BTC. The $WLFI token, majorly influenced by Trump affiliation, is currently in a controlled sale phase with its price increasing from $0.015 to $0.05.
The leadership transition at Alt5 Sigma has not yet affected the cryptocurrency market significantly, although changes in governance and fundraising plans may influence its future development.
