Alt5 Sigma (ALTS), a developer of digital asset trading platforms that is building a treasury of tokens issued by the Trump family-linked World Liberty Financial, said it suspended CEO Peter Tassiopoulos and replaced him with CFO Jonathan Hugh on an interim basis.
The company’s board, which is chaired by World Liberty Financial co-founder Zach Witkoff, removed Tassiopoulos from his duties on Oct. 16, according to a Wednesday SEC filing that did not provide a reason for the decision.
Tassiopoulos was appointed CEO just over a year ago. At the time, the Nasdaq-listed company highlighted his experience in the sector. The appointment was positioned as a step to guide the company’s expansion in digital asset management while restructuring its healthcare division.
ALT5 Sigma, based in Las Vegas, develops digital asset trading platforms and infrastructure that provide tools to help institutions and fintech companies access cryptocurrency markets.
The company bills itself as a WLFI tax company after entering into an agreement with World Liberty Financial. In addition to Witkoff, co-founder Eric Trump joined the Alt5 Sigma board.
Earlier this month, the company revealed that it holds approximately 7.28 billion WLFI, which represents about 7.3% of its total supply. At WLFI’s current prices, this treasury is worth about $1.5 billion.
ALT5 Sigma had not responded to a request for comment by the time of publication. CoinDesk was unable to contact Tassiopoulos.
Read more: Trump Family’s DeFi Play Draws ALT5 Sigma into $1.5B WLFI Treasury Plan
