WLFI Price Drops 7% Following Eric Trump’s Departure from ALT5 Sigma
Eric Trump has resigned from the board of ALT5 Sigma, a World Liberty Financial Treasury company. This decision resulted in a 7% drop in the WLFI price, falling below $0.20.
Details on Eric Trump's Departure
The resignation was disclosed in an SEC filing shortly after his appointment as director. The move was coordinated with Nasdaq to comply with listing regulations, although specific rules were not mentioned.
- Three securities law professors found no clear reason for Nasdaq's actions regarding board appointments.
- Nasdaq mandates that a majority of board members be independent.
- The rationale behind Zachary Folkman’s eligibility as Trump's replacement remains unclear.
WLFI Price Movement
The WLFI price fell to $0.1961, continuing its downward trend with a 14% decline over the past week. Currently, it trades 39% below its all-time high of $0.33, reached on September 1st.
- Trump participated in a ceremonial Nasdaq opening bell ringing shortly before his resignation.
- ALT5 Sigma aims to raise $1.5 billion through private share sales for acquiring WLFI tokens.
- Despite the SEC announcement, ALT5 Sigma’s website still lists Trump as a board member.
