Trump's crypto venture worth $1.5 billion is already facing some serious issues. This week, news broke that Alt5 Sigma, a Nasdaq-listed firm that invested that big sum into Trump’s World Liberty Financial (WLFI), is being looked at by the U.S. Securities and Exchange Commission (SEC). The focus is on allegations of overstated earnings and some sketchy insider stock sales. Alt5 Sigma quickly shot down these claims, labeling the reports as false.
So, there are reports suggesting Alt5 Sigma is under SEC scrutiny. Supposedly, the SEC is investigating Jon Isaac, the president of Alt5 Sigma, for supposedly inflating profits and selling shares when prices were on the rise. That sort of behavior can definitely raise eyebrows, hinting at insider trading or stock manipulation.
But here’s the kicker: the SEC hasn’t actually confirmed any investigation. There’s been no official filing, lawsuit, or any enforcement action made public. For now, all we have are media reports and no solid proof from the regulators.
Well, the financial market is always filled with news and rumours like this everyday but one thing I do know is that with World Liberty Financial listing a crypto token today, eyebrows will be raised as investors seeks to profit from the listing on several exchanges and liquidity is strong across top T1 exchanges like nance, BG and others.
Heard presale and public sale investors are already in 15x profit post-listing buying at $0.02 and listing at $0.4 today after a long wait
https://cointelegraph.com/news/developer-trump-wlfi-stealing-tokens
Scam of all scams: Crypto dev claims Trump-linked WLFI stole his money
https://x.com/bitfalls/status/1964213177245159656
"Bruno Skvorc
@bitfallsI just got a reply from @worldlibertyfi. TLDR is, they stole my money, and because it's the @POTUS family, I can't do anything about it.
This is the new age mafia. There is no one to complain to, no one to argue with, no one to sue. It just... is.
@zachxbt THIS is the scam of all scams."
There are no so many complaints from users that their tokens have been frozen and yet it looks like the explanation being given for their actions isn't adding up. Okay, let's say for Bruce's case, there was a transaction he conducted using Tornado mixer and had links with Garantex and Netex which have both being sanctioned, what then can they say for Tron's founder, Justin Sun's case? It all just seems like there needs to be a proper investigation carried out cause these investors need to be able to access their tokens but freezing their funds without due explanation doesn't look well for them.
Eric Trump Removed From Board Role After Firm Consults Nasdaq
A Trump Organization-backed crypto deal was quietly revised weeks after it was announced, with Eric Trump no longer joining the board of fintech firm Alt5 Sigma as initially planned, following the firms consultation with Nasdaqthough the company did not explain why.
Well there is something fishy about Eric's removal as member of the board and "relegated" to being an observer. The question is why didn't Nasdaq realize this early on before it got to public notice but all of a sudden decided to play by the book after he was included. This news would surely make tongues wag.
There is no point in even commenting on this. If you are on the board of directors of a company, then you have legal responsibility and you can be accused of a conflict of interest. If you are an observer, then I am sure that there is no legal responsibility, or it is minimal and certainly does not threaten criminal prosecution in the future.
LOL good luck with that.
I don't think the US government has ever investigated itself.
The way this sounds like, is that this "investor company" is probably just part of WLFI itself, and since WLFI has strong ties to Trump, who is president right now, and thus is above the SEC, then what exactly do they think they are trying to accomplish here?
It doesn't make any sense.
This is exactly what I thought. Trump owns 70% of the company, and other members of his family own the remaining, so what exactly is the SEC going to do about it? There have been no official statements, no lawsuit, and there will be none. All we will hear about it is from the media, and it will always be "allegedly".
Trump now has enormous powers, but he will not be president forever. Unless Trump's son runs for office Eric Trump can run for office under US law, he is over 35 years old.
We can only watch this and I do not recommend anyone to buy these tokens, unless you are a professional and understand all the risks.
Justin Sun sees $60M decline in locked World Liberty tokens
https://www.msn.com/en-us/money/markets/justin-sun-sees-60m-decline-in-locked-world-liberty-tokens/ar-AA1SSz6o
"Justin Sun, founder of the TRON blockchain, has lost about $60 million in value over the past three months, according to the latest blockchain analytics, as the crypto entrepreneur remains blacklisted by the project that froze his holdings.
A few months ago, World Liberty Financial (WLFI) blacklisted 272 wallets, citing broad security concerns following suspected phishing and suspicious activity. Among those addresses was one linked to Sun, an early backer of the project.
The WLFI token contract blacklisted an address linked to Sun, freezing WLFI at the address and stopping him from sending or receiving the tokens. During the same period, Sun challenged the blacklisting, maintaining that he had committed no wrongdoing."