Crypto treasury firm ALT5 Sigma has undergone a significant leadership restructuring, replacing CEO Jonathan Hugh and severing ties with chief operating officer Ron Pitters as part of a broader shakeup in November.
The company detailed the changes in a Securities and Exchange Commission filing submitted on Wednesday, noting that Tony Isaac — its current president and a member of its board — has stepped in as acting CEO.
ALT5 Sigma said it is currently working with Hugh to “finalize the terms of his departure,” emphasizing that both exits were made “without cause.”
The company did not respond to requests for comment.
ALT5 Sigma is closely tied to World Liberty Financial (WLFI), a decentralized finance platform connected to the Trump family.
The firm raised $1.5 billion in August to build a crypto treasury designed to accumulate WLFI tokens.
Eric Trump, son of US President Donald Trump, sits on the company’s board, though his role has shifted in recent months.
In September, he scaled back his participation to comply with Nasdaq listing requirements, assuming the position of board observer rather than full director.
The company’s relationship with WLFI has intensified political scrutiny.
Democratic lawmakers have repeatedly raised concerns that Trump-linked crypto projects may present conflicts of interest for the president and his family, particularly as WLFI markets itself as a community-governed token used across various financial applications.
In November, lawmakers urged US Attorney General Pam Bondi to investigate allegations that WLFI facilitated token sales to sanctioned entities in North Korea and Russia.
The complaint argued that the Trump family’s crypto ecosystem — and the nearly $1 billion in profits reportedly generated — posed potential national security risks and created avenues for influence through access to the president.
The heightened attention surrounding ALT5 Sigma also follows separate rumors earlier this year.
In August, speculation surfaced claiming venture capitalist and ALT5 shareholder Jon Isaac was under SEC investigation for insider sales and earnings inflation.
ALT5 Sigma strongly rejected those claims, saying, “For the record: Jon Isaac is not, and never was, the president of ALT5 Sigma, and he is not an advisor to the company. The company has no knowledge of any current investigation regarding its activities by the US SEC.”
The WLFI token has experienced a steady decline throughout the period of intensified regulatory inquiry, with market data showing worsening sentiment as questions about governance and compliance mount.
Despite the turbulence, ALT5 Sigma continues to position itself as a key player in the evolving crypto-treasury sector, particularly as institutional and politically connected entities expand their involvement in digital assets.
The company has not provided further clarity on whether additional leadership changes are being considered or whether its long-term strategy involving WLFI remains unchanged.
As scrutiny increases and political stakes rise, ALT5 Sigma’s restructuring signals an attempt to stabilize operations during a contentious moment for Trump-aligned blockchain initiatives.
