Core Insights - Eric Trump has been removed from his board position at Alt5 Sigma, a fintech company managing over $1.5 billion in World Liberty Financial (WLFI) tokens, due to Nasdaq compliance issues [1][2][6] - Following the demotion, Zak Folkman, the chief operating officer of WLFI and one of its co-founders, is expected to take over as a director [2] - Trump has stated his continued commitment to WLFI despite the change in his role [3] Compliance and Governance - The demotion was prompted by Nasdaq's compliance concerns regarding the governance of Alt5 Sigma, although the specific rule leading to Trump's removal was not disclosed [2][6] - Trump was initially introduced as a director in August before being reassigned to a board observer role [2] Legal Challenges - Alt5 Sigma is facing legal issues, including a Rwandan court's order to seize $3.5 million linked to a former principal and the liquidation of its Canadian subsidiary over claims of unlawful gain [4] - The firm is also dealing with a lawsuit against its former chief financial officer regarding 330,000 shares allegedly concealed during bankruptcy proceedings [4] - Alt5 Sigma has denied any wrongdoing in these matters, which remain unresolved [4]