Eric Trump booted from cryptocurrency board after company talks with stock regulators

Source: The Independent

Tuesday 09 September 2025 18:14 EDT


Eric Trump will no longer serve as a director on the board of a cryptocurrency firm after the company held talks with stock market regulators despite an earlier announcement. Fintech firm Alt5 Sigma touted that President Donald Trump’s son was joining its board of directors in an August 13 news release.

Trump rang the Nasdaq opening bell on the day of the announcement to mark a $1.5 billion crypto deal between Alt5 Sigma and World Liberty Financial, the company that is financially backed by the Trump family.

But according to a Securities and Exchange Commission filing, Trump has since been demoted to a board observer, where he can still attend meetings but doesn’t have the power of a full board director, The Street first reported.

Zachary Witkoff, the son of the president’s Middle East envoy Steve Witkoff, meanwhile, has been named chairman and board nominee of Alt5 Sigma.

Read more: https://www.the-independent.com/news/world/americas/us-politics/eric-trump-crypto-board-director-role-b2823460.html