Trump Family-Linked Alt5 Sigma Ousts Top Execs After CEO Suspension Shakes Up Leadership

ALT5 Sigma, a cryptocurrency treasury firm linked to Donald Trump, has undergone a leadership shakeup, replacing two senior executives amid increasing scrutiny of its associated platform, World Liberty Financial (WLFI). This change comes as WLFI faces significant challenges, including a token price that has dropped 50% below its launch value and ongoing investigations by U.S. senators regarding its operations.

Kevin Hassett, a prominent economic adviser to former President Trump, is reportedly a leading candidate to succeed Jerome Powell as chair of the Federal Reserve, according to recent reports. This potential appointment underscores Hassett's influence within the Trump administration and his alignment with pro-cryptocurrency policies.

The Trump family-backed cryptocurrency firm WLFI has initiated nearly $8 million in token buybacks to counteract a significant decline in its token's market price, which currently sits 50% below its launch value. This move aims to reduce the circulating supply and stabilize the token's value amidst a challenging market environment.

Kevin Hassett, a key advisor to former President Trump and a member of the president's crypto working group, has emerged as a leading candidate to chair the Federal Reserve, according to a Bloomberg report. This potential appointment highlights the intersection of cryptocurrency advocacy and traditional financial governance.

Trump-backed World Liberty Financial (WLFI) executed a significant buyback of nearly $10 million in WLFI tokens within a six-hour window, a move aimed at bolstering investor confidence and stabilizing the token's market value. This buyback comes as WLFI's token price has been reported to linger approximately 50% below its launch price, prompting the company to take decisive action to counteract this decline.