Mentioned:
The crypto company co-founded by the Trump family is gearing up to make their Wall Street debut.
What’s happening:
- ALT5 Sigma Corporation (NASDAQ: ALTS) has entered into a definitive agreement to raise $1.5B USD for the sole purpose of acquiring World Liberty Financial tokens to hold directly as an asset
By the numbers:
- ALT5 Sigma Corporation will issue up to 100M shares in a registered offering priced at $7.50 USD per share
- World Liberty Financial will also participate concurrently in a 100M share private placement priced at $7.50USD in which they will contribute World Liberty Financial tokens instead of cash
- Upon closing of the equity financing raise, ALT5 Sigma Corporation will own roughly 7.5% of the entire token supply for World Liberty Financial
Why it matters:
- World Liberty Financial is co-founded by the Trump family and previously made major waves when they raised $550M USD through token sales
Going deeper:
- Zach Witkoff will become Chairman of ALT5 Sigma Corporation following the capital raise and Eric Trump will officially join the board of directors
The intrigue:
- World Liberty Financial’s recently launched stablecoin USD1 has also been quickly finding user adoption and has already become one of the largest stablecoins in the world by total market capitalization
