ALT5 Sigma, a crypto treasury company associated with United States President Donald Trump, has undergone a significant leadership reshuffle amid growing scrutiny of its ties to World Liberty Financial (WLFI). The firm removed chief executive Jonathan Hugh in November and ended its relationship with chief operating officer Ron Pitters.

Tony Isaac, currently serving as president and board member, has stepped in as acting chief executive while the company works with Hugh to settle the terms of his exit. These changes were detailed in a recent filing submitted to the Securities and Exchange Commission.

Company’s WLFI Strategy Under Spotlight

ALT5 Sigma has drawn attention for its aggressive treasury model which involves acquiring tokens issued by WLFI, a decentralised finance platform linked to the Trump family. The firm stated that both departures were “without cause.” Attempts to obtain comment from the company went unanswered.

In August the company secured 1.5 billion US dollars to establish a dedicated crypto treasury for the purchase of WLFI tokens. Eric Trump, son of the US president, sits on the firm’s board as a director.

Political Pressure Intensifies Over Crypto Links
The involvement of the Trump family in digital asset ventures has triggered criticism from Democratic lawmakers who argue that such connections create potential conflicts of interest. They claim the president’s proximity to crypto enterprises could influence policy decisions or generate undue access to government circles.

Eric Trump reduced his role within the firm in September to meet Nasdaq listing requirements, according to an SEC filing which said he was reassigned as a board observer.

Allegations and Investigations Surrounding WLFI
In August rumours circulated that venture capitalist Jon Isaac, an ALT5 Sigma shareholder, was under SEC investigation for alleged earnings manipulation and insider sales. ALT5 Sigma rejected these claims and clarified that Isaac had never been the company’s president or an advisor. The firm also said it was unaware of any investigation into its own activities.

In November several Democratic lawmakers called on US attorney general Pam Bondi to open an investigation into allegations that WLFI sold tokens to sanctioned entities in Russia and North Korea. They argued that the Trump family’s crypto initiatives and the reported one billion US dollars in profits from these ventures could pose national security risks as well as an avenue for influence through access to the president.

Rising Concerns Over Governance and Transparency
The ongoing questions surrounding WLFI and ALT5 Sigma’s governance have raised wider concerns across the crypto sector. Analysts warn that close political ties, opaque token sales and large scale fundraising activities may draw further regulatory attention in the months ahead.

The leadership changes at ALT5 Sigma signal an attempt to stabilise the company while addressing growing political and regulatory pressure linked to its association with the Trump family’s digital asset ambitions.