Trump-backed ALT5 Sigma completes $1.5 billion funding to initiate WLFI treasury strategy

ALT5 Sigma Corporation, supported by Eric Trump and Donald Trump Jr., announced Tuesday it had closed a $1.5 billion registered direct offering and private placement to kick off a treasury strategy focused on WLFI, the native token of World Liberty Financial.

The completion of funding, which was led by World Liberty Financial, came after ALT5 Sigma revealed the plan on Monday. The company is targeting acquiring about 7.5% of the WLFI token's total supply.

In addition to its planned WLFI token purchases, the firm intends to allocate the proceeds toward debt repayment, settling litigation, and covering general corporate expenses.

As part of the deal, World Liberty Financial co-founder and CEO Zach Witkoff will become Chairman of ALT5 Sigma’s board of directors, while Eric Trump will join the company as a director. Kraken will act as an asset manager, and A.G.P./Alliance Global Partners will serve as the sole placement agent.

ALT5 Sigma, founded in 2018, has processed over $5 billion in crypto transactions since its inception. The company operates two main platforms: ALT5 Pay, a crypto payment gateway, and ALT5 Prime, an electronic over-the-counter trading platform.

The company is set to ring the Nasdaq opening bell tomorrow, according to Eric Trump.

The WLFI token is becoming tradeable following a July governance vote. Eric Trump has confirmed that the team is now in the process of executing the plan.

Once tradeable, he expects that the WLFI token will soon become available on all major centralized exchanges as well as decentralized exchanges.