Alt5 Sigma (ALTS), a developer of digital-asset trading platforms that is building a treasury of tokens issued by 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 headed by World Liberty Financial co-founder Zach Witkoff, removed Tassiopoulos from his duties as of 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 hiring was positioned as a move to guide the company’s expansion in digital asset management while restructuring its health-care division.
ALT5 Sigma, based in Las Vegas, develops digital asset trading platforms and infrastructure, providing tools to help institutions and fintech companies access cryptocurrency markets.
The company bills itself as a WLFI treasury company, after striking a deal with the World Liberty Financial. In addition to Witkoff, co-founder Eric Trump joined the Alt5 Sigma board.
Earlier this month, the company revealed it holds approximately 7.28 billion WLFI, representing around 7.3% of its total supply. At WLFI’s current prices, that treasury is worth around $1.5 billion.
ALT5 Sigma had not responded to a request for comment by publication time. CoinDesk was not able to contact Tassiopoulos.
Read more: Trump Family’s DeFi Play Pulls ALT5 Sigma Into $1.5B WLFI Treasury Plan