Bloomberg: ALT5 brought $500 million in revenue to the Trump family, but ALT5 stock caused investors to lose over 90%
Foresight News reports, according to Bloomberg, that last summer, digital payment company ALT5 Sigma (now renamed AI Financial Corp.) partnered with the Trump family’s crypto platform World Liberty Financial, spending $750 million to purchase WLFI tokens issued by World Liberty. In return, World Liberty acquired shares in ALT5 and appointed Zach Witkoff as chairman. Following the deal, the company’s market value soared from around $100 million to over $1 billion, but after nearly a year, enthusiasm has faded, and the company’s valuation is now less than $60 million and faces a risk of being delisted from Nasdaq. The price of the purchased tokens has dropped from 20 cents each to about 6 cents, with investors losing over 90%.
The report states that this transaction brought more than $500 million in revenue to the Trump family. According to Trump’s latest financial disclosure, he earned over $1.4 billion from crypto business last year, with World Liberty alone contributing more than $550 million. In response, spokespeople for Trump’s two sons stated that the pair “were not involved in any ALT5 affairs,” and the White House also said that the president’s assets are managed by an independent third-party organization and that no conflict of interest exists.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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