Eric Trump, the son of US President Donald Trump, has reportedly transitioned from being a board member to an observer at investment firm ALT5 Sigma as part of an agreement with World Liberty Financial.
Changes in Board Membership
According to SEC filings on August 25, Eric Trump and World Liberty Financial co-founder Zach Folkman were designated as board observers rather than members. The company stated this change was made to "comply with Nasdaq's listing rules."
Agreements with World Liberty Financial
ALT5 Sigma previously announced plans to raise $1.5 billion for World Liberty Financial's corporate treasury and noted Trump's appointment as a board director. However, as of publication, he was listed as a board director on ALT5 Sigma’s website.
Controversies Surrounding World Liberty Financial
World Liberty is facing scrutiny from users who claimed their tokens were locked due to "high risk" from their crypto wallets. Tron founder Justin Sun reported that his wallet address was blacklisted after transferring 50 million WLFI tokens.
The situation surrounding Eric Trump and his ties to cryptocurrency projects highlights the increasing influence of the Trump family in the financial sector, raising both interest and criticism.
