PANews reported on November 27th, citing Bloomberg, that Alt5 Sigma, linked to the Trump family's crypto projects, announced the dismissal of some senior leadership members due to recently disclosed long-standing legal issues. According to a filing on Wednesday, Alt5 Sigma severed ties with its acting CEO, Jonathan Hugh, stating that the decision was unrelated to any specific misconduct. The filing also indicated that the company parted ways with Chief Operating Officer Ron Pitters and appointed successors for both, without detailing the reasons for this move.

These changes are the latest sign of turmoil at Alt5 Sigma, which previously closed the deal in August to acquire the WLFI digital token created by World Liberty Financial, a company virtually unknown before. At the time of the deal, Trump family ally Zachary Witkoff was appointed chairman of Alt5 Sigma's board. He is a co-founder of World Liberty Financial and the son of presidential envoy Steve Witkoff.