coindesk.com
Alt5 Sigma (ALTS), developer of digital-asset trading platforms that is building a treasury of tokens issued by Trump-family-linked World Liberty Financial, has dismissed two senior executives in just a month after suspending its CEO, extending a stretch of internal shakeups.
According to a filing with the U.S. Securities and Exchange Commission (SEC), the company removed Jonathan Hugh from his dual roles as Chief Financial Officer and Acting CEO “without cause” on Nov. 21.
Hugh had only recently stepped into the interim leadership role following the unexplained suspension of CEO Peter Tassiopoulos on Oct. 16.
Four days later, Alt5 informed Chief Operating Officer Ron Pitters that his consulting agreement would be concluded as scheduled, effectively ending his role as COO. Pitters remains on the company’s board.
The rapid turnover leaves Alt5 on its third CEO in six weeks. The board appointed company president Tony Isaac to serve as Acting CEO. He will continue in his other roles and was not given a new contract or compensation package for the added responsibility, according to the filing.
The company also named veteran accountant Steven Plumb as its new CFO. Alt5 holds roughly $1.3 billion worth of WLFI tokens and is chaired by WLFI co-founder Zach Witkoff. In addition to Witkoff, co-founder Eric Trump joined the Alt5 Sigma board.
The board also dissolved a special committee that had been investigating undisclosed internal matters. Findings from that probe were shared with the board, the filing said.