Eric Trump quietly removed from Alt5 Sigma board role: Report

Core Points - Eric Trump will no longer join the board of fintech firm Alt5 Sigma, despite previous announcements linking him to a $1.5 billion crypto deal with World Liberty Financial, co-founded by the Trump family [1] - The decision to remove Eric Trump from the board was disclosed in a Securities and Exchange Commission (SEC) filing [1] - The change was reportedly made after discussions with The Nasdaq Stock Market LLC to comply with Nasdaq's listing rules, although the specific rule was not clarified [2] Company Developments - Eric Trump, along with Donald Trump Jr. and World Liberty Financial executives, participated in ringing the Nasdaq opening bell on August 13, shortly after Alt5 Sigma announced plans to raise $1.5 billion through private share sales for WLFI tokens [3] - A Trump-affiliated LLC holds approximately 38% of World Liberty Financial and is entitled to 75% of the proceeds from the token sales [3] - In the updated filing, Zachary Witkoff was named as chairman and board nominee, while Eric Trump and Zachary Folkman were designated as observers [4] - The board has also approved the appointment of Zachary Folkman as a director, pending stockholder approval in accordance with Nasdaq's listing rules [4]