Alt5 Sigma (ALTS), a developer of digital asset trading platforms that is building a trove of tokens issued by Trump family-linked World Liberty Financial, said it has suspended CEO Peter Tassiopoulos and replaced him with CFO Jonathan Hugh on an interim basis.
The company’s board of directors, led by World Liberty Financial co-founder Zach Witkoff, removed Tassiopoulos from his position on Oct. 16, according to an SEC filing Wednesday that did not provide a reason for the decision.
Tassiopoulos was named CEO a little over a year ago. At the time, the Nasdaq-listed company highlighted its experience in the sector. The hiring was positioned as a move to guide the company’s expansion into digital asset management while restructuring its healthcare division.
Las Vegas-based ALT5 Sigma develops digital asset trading platforms and infrastructure, providing tools to help institutions and fintech companies access cryptocurrency markets.
The company presents itself as a WLFI treasury company, having entered into an agreement with World Liberty Financial. In addition to Witkoff, co-founder Eric Trump has joined Alt5 Sigma’s board of directors.
Earlier this month, the company revealed that it held approximately 7.28 billion WLFI, representing approximately 7.3% of its total supply. At current WLFI prices, that cash is worth about $1.5 billion.
ALT5 Sigma had not responded to a request for comment at the time of publication. CoinDesk was unable to contact Tassiopoulos.
Read more: Trump Family’s DeFi Play Incorporates ALT5 Sigma into $1.5B WLFI Cash Plan
