Trump-linked crypto firm under fire over auditor credentials

Alt5 Sigma, a company that has repositioned itself from recycling and biotech into blockchain and fintech, retained Victor Mokuolu CPA PLLC as its auditor in December 2025, even though the firm’s licence had expired earlier in the year – leaving the auditor unable to issue timely financial audits and contributing to missed Nasdaq reporting deadlines.

The company, which in **August 2025 agreed to buy a large stake in crypto tokens issued by World Liberty Financial – a venture backed by Donald Trump’s family – with Eric Trump acting as a board observer, now risks delisting from the Nasdaq exchange due to its failure to file quarterly results on time.

Alt5’s newly-appointed auditor had previously been fined by U.S. accounting regulators for late filings and did not clear an industry peer review, while its licence renewal – expected by January 2026 – remains pending, prompting Alt5 to state that it will not issue audited financials until the licence is reactivated.

Founded originally as a recycling business and later rebranded through mergers and acquisitions, Alt5 now presents itself as a fintech infrastructure provider that holds approximately 7.3 billion World Liberty Financial (WLFI) tokens, valued at about $1.1 billion as of early December 2025, according to company disclosures.

The leadership landscape at Alt5 has been unstable. After Alt5’s August token deal, both its chief financial officer and chief executive resigned within months, and another board member’s departure left it out of compliance with Nasdaq’s governance requirements.

Alt5 acknowledged regulatory and auditor transitions in a statement to the Financial Times, saying the auditor was undergoing a peer review as required by Texas accountancy rules and that audits would resume once licensure was restored. Requests for comment from the auditor were not returned.

World Liberty Financial, the crypto venture at the centre of Alt5’s strategy, has been the subject of broader reporting on the Trump family’s involvement in digital assets. Reuters and other analyses have documented how the Trumps assumed a controlling stake in World Liberty in early 2025 after it raised hundreds of millions in governance tokens, with the family entitled to a majority of revenues and a share of operating profits.

Critics and ethics observers have flagged potential conflicts of interest arising from the overlap between the Trump family’s political roles and their financial stakes in crypto ventures, particularly at a time when U.S. crypto regulatory policy is in flux.

WLFI remains active as a decentralized finance protocol and has expanded initiatives including the marketing of the WLFI token and the development of a USD-pegged stablecoin, though it has yet to launch a fully operational DeFi platform.