Alt5 Sigma (ALTS), the developer of the digital-asset trading platform that is building a treasury of tokens issued by Trump-family-linked World Liberty Financial, said it suspended CEO Peter Tassiopoulos and replaced him with CFO Jonathan Hugh on an interim basis.
The company’s board, which is led by World Liberty Financial co-founder Zach Witkoff, removed Tassiopoulos from his duties on Oct. 16, according to a Wednesday SEC filing, which did not provide a reason for the decision.
Tassiopoulos was appointed CEO just a year ago. At the time, the Nasdaq-listed company highlighted their experience in the sector. The appointment was made as part of a restructuring of the company’s health care division as well as a move to direct expansion into digital asset management.
ALT5 Sigma, based in Las Vegas, develops digital asset trading platforms and infrastructure, providing tools to help institutions and fintech companies access cryptocurrency markets.
Following the deal with World Liberty Financial, the company bills itself as WLFI Treasury Company. In addition to Witkoff, co-founder Eric Trump joins the Alt5 Sigma board.
Earlier this month, the company revealed that it held approximately 7.28 billion WLFI, which is approximately 7.3% of its total supply. At WLFI’s current prices, that treasure is worth about $1.5 billion.
ALT5 Sigma had not responded to a request for comment by publication time. CoinDesk was not able to contact Tassiopoulos.
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