Eric Trump is no longer shown on the leadership page of Alt5 Sigma Corp., the Las Vegas company that became closely tied to the Trump family’s crypto business, World Liberty Financial Inc.
His name had appeared on the company’s website as recently as March, when he was listed as an adviser and board observer. By last week, Eric was no longer there.
Alt5, which now calls itself AI Financial (NASDAQ: ALTS), became part of the Trump crypto story after it agreed to hold World Liberty tokens on its balance sheet in August, and agreed to build a $1.5 billion crypto reserve. In return, World Liberty received stock in AI Financial and board seats..
Alt5 keeps other World Liberty names listed while Eric leaves the public page
Eric was first lined up for a stronger role at Alt5. The early plan had him joining the board as a director. He was expected to sit there with Zachary Witkoff, the son of presidential envoy Steve Witkoff, and Zak Folkman. Zachary and Zak are also co-founders of World Liberty Financial.
That plan did not stay the same. Eric later became a board observer, not a director. A board observer can usually attend board meetings, read materials, and stay close to the company’s internal discussions. The person does not normally vote on board decisions.
Zachary and Zak are still listed on the company’s board page. Alt5 reported a loss of more than $341 million in its latest fiscal year. In its newest annual filing, management warned investors that there was serious doubt about whether the company could keep running for another year.
World Liberty faces legal heat, falling token prices, and questions over outside crypto ties
The trouble around World Liberty has been getting louder. Last month, Cryptopolitan reported crypto billionaire Justin Sun sued the company. Justin accused World Liberty of extortion and of illegally freezing his tokens. Eric responded on X and called the lawsuit “ridiculous.”
Other Trump-linked crypto assets have also lost value since launch. Shares tied to a Bitcoin mining company have fallen. The $TRUMP virtual token has also been steadily crashing.
AI Financial has also agreed to buy Block Street, a crypto infrastructure startup owned by one of the company’s own advisers. SEC filings say the Las Vegas company signed the deal last Monday. The purchase could be worth up to $43 million.
Morgan, the adviser behind Block Street, pushed back against the idea that the deal was self-dealing. He told Fortune that Block Street is not making revenue. He also said he had offered the startup to several public companies in late 2025 and turned down proposals with possible value above $100 million in “upside.”
Another issue comes through AB, a crypto venture that announced an arrangement with World Liberty less than a month after the Trump administration brought criminal charges and sanctions against a large alleged scam network. One AB-linked project was a planned “blockchain”-themed resort in East Timor.
Two men tied to that resort were later named in the U.S. crackdown. They were the controlling shareholder and the general manager of the resort project. U.S. officials said the men had worked for the Prince Group, which the government described as one of Asia’s biggest criminal organizations.
The Justice Department said on October 14 last year that Prince Group ran at least 10 violent scam compounds in Cambodia. Officials said enslaved workers were forced to run online fraud, including “pig butchering,” where scammers build fake relationships with victims before stealing their money.
That same day, the Treasury Department sanctioned more than 140 people and companies over alleged Prince Group activity and money-laundering networks.
A lawyer for World Liberty denied any relationship with the sanctioned men. He said the company did not know about the planned resort when it announced the AB arrangement.
He also said the AB deal was not a partnership, but a “limited non-exclusive technology integration” that would allow AB’s network to use the Trump family’s USD1 stablecoin. The lawyer added, “WLF takes its compliance obligations very seriously.”
