Eric Trump no longer appears on the leadership page for Alt5 Sigma Corp, the Las Vegas company that has become closely linked to the Trump family’s cryptocurrency business, World Liberty Financial Inc.
His name appeared on the company’s website last March, when he was listed as an advisor and observer to the board of directors. By last week, Eric was no longer there.
Alt5, which now calls itself AI Financial (NASDAQ: ALTS), became part of Trump’s cryptocurrency story after it agreed to hold World Liberty tokens on its balance sheet in August, and agreed to build a $1.5 billion cryptocurrency reserve. In return, World Liberty received shares in AI Financial and board seats.
Alt5 keeps the other World Liberty names listed as Eric leaves the public page
Eric was first cast in a stronger role in Alt5. The early plan had him join the board as a director. He was expected to sit there with Zachary Witkoff, the son of presidential envoy Steve Witkoff, and Zach Volkman. Zachary and Zach are also co-founders of World Liberty Financial.
That plan did not remain the same. Eric later became an observer of the board, rather than a director. A board observer can typically attend board meetings, read materials, and stay close to the company’s internal discussions. The person does not typically vote on board decisions.
Zachary and Zach are still listed on the company’s board of directors page. Alt5 reported a loss of more than $341 million in its most recent fiscal year. In its latest annual statements, management warned investors that there was serious doubt about whether the company would be able to continue operating for another year.
World Liberty is facing legal heat, falling token prices, and questions about its offshore cryptocurrency relationships
The problems surrounding universal freedom have become louder. Last month, Cryptopolitan reported that cryptocurrency billionaire Justin Sun had filed a lawsuit against the company. Justin accused World Liberty of extortion and illegally freezing his coins. Eric responded to X and called the lawsuit “ridiculous.”
Other crypto assets linked to Trump have also lost value since their launch. Shares linked to the Bitcoin mining company fell. Also, the default $TRUMP token keeps crashing.
AI Financial has also agreed to buy Block Street, a cryptocurrency infrastructure startup owned by one of the company’s advisors. The Las Vegas company signed the deal last Monday, Securities and Exchange Commission filings say. The purchase value may reach $43 million.
Morgan, the Block Street advisor, disputed the idea that the deal was a self-deal. Block Street doesn’t generate revenue, he told Fortune. He also said he pitched the startup to several public companies in late 2025 and “affirmatively” rejected offers that could be worth more than $100 million.
Another problem comes in the form of AB, a cryptocurrency project that announced an arrangement with World Liberty less than a month after the Trump administration brought criminal charges and sanctions against an alleged large fraud network. One of the projects associated with AB was a planned “blockchain-themed” resort in East Timor.
Two men linked to this resort were later named in the US crackdown. They were the controlling shareholder and general manager of the resort project. US officials said the men were working for Prince’s group, which the government described as one of the largest criminal organizations in Asia.
The Justice Department said on October 14 last year that Prince’s group was running at least 10 violent fraud complexes in Cambodia. Officials said enslaved workers were forced to engage in online scams, including “pig slaughter,” where scammers build fake relationships with victims before stealing their money.
On the same day, the Treasury Department imposed sanctions on more than 140 individuals and companies over the Prince Group’s alleged activities and money laundering networks.
World Liberty’s lawyer denied any connection to the punished men. He said the company was not aware of the planned resort when it announced the AB arrangement.
He also said that the AB deal was not a partnership, but rather a “limited, non-exclusive technology integration” that would allow the AB network to use the Trump family’s $1 stablecoin. “WLF takes its compliance obligations very seriously,” the lawyer added.
