Eric Trump drops crypto firm that stockpiled World Liberty coins

• Key insight: Eric Trump's name has disappeared from the board of a recently-renamed digital asset fintech that stockpiled crypto tokens from the Trump-backed World Liberty Financial last year.
• What's at stake: The unexplained removal comes at a time when the Trump family is under pressure for various crypto dealings, even as World Liberty Financial is seeking a national trust bank charter.
• Supporting data: ALT5's holdings in World Liberty tokens dropped in value by 30% from August to December 2025.

Eric Trump, the second son of President Donald Trump, is no longer connected with a fintech that stockpiled crypto tokens for the Trump family's firm World Liberty Financial.

According to Wayback Machine archives, Eric Trump was listed in ALT5 Sigma Corp's board as a "strategic advisor and observer" as recently as March of this year. By late April, his name was removed from the page. The news was first reported by Bloomberg.

The company, which just launched a rebrand to the name AI Financial Corporation and changed its Nasdaq ticker symbol to AIFC as of Wednesday, also did not include Eric Trump's name among its executive leadership on its website or in its amended SEC form filed on Tuesday.

AI Financial Corporation did not issue a statement explaining the removal or respond to a request for comment by time of publication.

ALT5 Sigma Corp, now AI Financial Corporation, is a biotech company turned digital asset fintech that announced a $1.5 billion investment in stockpiling World Liberty Financial tokens ($WLFI) last August. According to an SEC filing, the transaction led to ALT5 holding approximately 7.5% of the total world supply of $WLFI tokens.

World Liberty Financial, a Trump-backed digital asset firm, was founded in October 2024 shortly before Donald Trump was elected for a second term as president of the United States. In addition to issuing digital assets, the company has also applied for a national trust bank charter as one of many such charter requests from fintechs and digital asset companies this spring.

Shares of ALT5, traded under the ticker ALTS before this week's change, shed about 90% of their value since the company announced it would stockpile World Liberty's virtual tokens in August. ALT5 also lost more than $341 million in its most recent fiscal year, according to its most recent annual earnings report.

"The company has incurred recurring losses from operations," according to the 10-K filing. "These conditions raise substantial doubt about the company's ability to continue as a going concern within one year after the date these financial statements are issued."

The filing noted that company management is relying on the value of its World Liberty Financial tokens to carry ALT5 through its obligations for the next year.

"Management believes that the company's holdings of approximately 7.3 billion WLFI tokens, carried at a fair value of approximately $1.05 billion as of December 27, 2025, represent a significant financial resource available to support the company's liquidity position," the filing said, noting a decrease of 30% in the total token value from August to December 2025.

"Notwithstanding the foregoing, the WLFI tokens are subject to significant market price risk, and there can be no assurance that the tokens will retain their current value or that the company will be able to monetize them on favorable terms or at all," the filing continued. "The company's ability to continue as a going concern is dependent upon its ability to manage its liquidity position, including through the sources described above."

Eric Trump's position at the fintech has changed in the past. He was originally announced by the company as a board director alongside fellow World Liberty co-founders Zachary Witkoff, the son of presidential envoy Steve Witkoff, and Zak Folkman. Witkoff and Folkman are still listed as members of the board on the company's new website, with Witkoff's title being chairman of the board for AI Financial Corporation and Folkman holding the title of director.

He was quietly reassigned to the role of advisor and observer for ALT5 last fall, according to an SEC filing that also placed Folkman as an observer at the time. The role of observer typically confers the ability to join board meetings without voting power.

The company's recent pivot to AI and tokenization isn't the first time it shifted its strategy or its name. The firm originally worked in appliance recycling and opioid alternatives under the name JanOne Inc., and changed its name to ALT5 Sigma Corporation in 2024, then spun off its biotech operations to a separate division under the name Alyea Therapeutics Corporation.