Alt5 Sigma (ALTS), a digital asset trading platform developer that is building a trove of tokens issued by the Trump family-linked World Liberty Financial, said it suspended CEO Peter Tassiopoulos and replaced him with Chief Financial Officer Jonathan Hugh on an interim basis.
The company’s board of directors, led by World Liberty Financial co-founder Zach Witkoff, removed Tassiopoulos from his duties effective Oct. 16, according to a document filed with the SEC on Wednesday that did not provide a reason for the decision.
Tassiopoulos was named CEO just over a year ago. At the time, the Nasdaq-listed company highlighted its experience in the sector. The hire was positioned as a move to guide the company’s expansion into digital asset management while restructuring its healthcare division.
Las Vegas-based ALT5 Sigma develops digital asset trading platforms and infrastructure, providing tools to help fintech institutions and companies access cryptocurrency markets.
The company bills itself as a WLFI treasury company, after reaching an agreement with World Liberty Financial. In addition to Witkoff, co-founder Eric Trump joined Alt5 Sigma’s board of directors.
Earlier this month, the company revealed that it holds approximately 7.28 billion WLFI, representing around 7.3% of its total supply. At current WLFI prices, that treasure is worth about $1.5 billion.
ALT5 Sigma had not responded to a request for comment at the time of publication. CoinDesk was unable to contact Tassiopoulos.
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