On November 22, according to Forbes, ALT5Sigma, the reserve company behind the Trump family's crypto project "World Liberty Financial" (WLFI), stated in a filing with the U.S. Securities and Exchange Commission (SEC) that its CEO was officially suspended on October 16, but internal emails revealed that the company's board of directors had actually placed him on "temporary leave" as early as September 4. Several securities regulatory experts stated that this significant discrepancy in timing may violate disclosure rules. The same email also revealed that Chief Revenue Officer Vay Tham was also placed on leave at the same time because a special committee of the board was investigating "certain matters related to the company." According to SEC regulations, publicly traded companies must disclose such changes within four trading days of a significant change in the actual cessation of an executive's duties (Form 8-K). If a company intentionally submits false or misleading information, it may constitute a violation of anti-fraud regulations.
In August of this year, ALT5 Sigma purchased a total of $1.5 billion worth of WLFI tokens through a single recurring transaction, with an estimated $500 million of that ultimately flowing to entities associated with President Trump.
