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Bullish
🏦 Revolution in Finance: First Crypto Treasury Backs World Liberty Financial
Fintech startup specialized in blockchain technology announced intentions to create a crypto treasury for the Trump family-backed World Liberty Financial (WLFI) initiative.
The statement was quickly received with unfavorable investor response, causing the company's stock price to plummet.
ALT5 Sigma, trading on Nasdaq as “ATLS”, seeks $1.5 billion to become the first publicly listed business to possess World Liberty Financial's governance token, WLFI.
The firm said it will raise these funds via a registered direct offering and a private placement, selling up to 100 million shares at $7.50 each, in a news statement on August 11.
WLFI tokens, which are non-transferable, will be used in the private placement as an OTC transaction.
Since the tokens are locked and cannot be exchanged, ALT5 Sigma indicated in its SEC filing that it can only buy WLFI directly from World Liberty Financial.
The statement also cautioned that if the business fails to buy the tokens on favorable terms or at all, it may have to reallocate funds in its digital asset treasury to implement its plan.
ALT5 Sigma shares reached $20 in pre-market trading and doubled in value before the World Liberty Financial statement. However, the announcement of the treasury intentions reversed this trend considerably.
Zach Witkoff, World Liberty Financial co-founder, will become ALT5 chairman after the treasury purchase. WLFI co-founder Eric Trump will join the board as a director.
It’s vital to remember that the WLFI token created as a non-tradeable governance token, was introduced in October 2024, with a following announcement of a USD1 stablecoin in March.
World Liberty Financial holders opted to trade the token in mid-July, enabling peer-to-peer and secondary market transactions. Trade eligibility is restricted to early backers, therefore token mobility is limited.
#TRUMP #ETH5kNext? #CPIWatch
#WLFI #BTCBreaksATH $USD1
Fintech startup specialized in blockchain technology announced intentions to create a crypto treasury for the Trump family-backed World Liberty Financial (WLFI) initiative.
The statement was quickly received with unfavorable investor response, causing the company's stock price to plummet.
ALT5 Sigma, trading on Nasdaq as “ATLS”, seeks $1.5 billion to become the first publicly listed business to possess World Liberty Financial's governance token, WLFI.
The firm said it will raise these funds via a registered direct offering and a private placement, selling up to 100 million shares at $7.50 each, in a news statement on August 11.
WLFI tokens, which are non-transferable, will be used in the private placement as an OTC transaction.
Since the tokens are locked and cannot be exchanged, ALT5 Sigma indicated in its SEC filing that it can only buy WLFI directly from World Liberty Financial.
The statement also cautioned that if the business fails to buy the tokens on favorable terms or at all, it may have to reallocate funds in its digital asset treasury to implement its plan.
ALT5 Sigma shares reached $20 in pre-market trading and doubled in value before the World Liberty Financial statement. However, the announcement of the treasury intentions reversed this trend considerably.
Zach Witkoff, World Liberty Financial co-founder, will become ALT5 chairman after the treasury purchase. WLFI co-founder Eric Trump will join the board as a director.
It’s vital to remember that the WLFI token created as a non-tradeable governance token, was introduced in October 2024, with a following announcement of a USD1 stablecoin in March.
World Liberty Financial holders opted to trade the token in mid-July, enabling peer-to-peer and secondary market transactions. Trade eligibility is restricted to early backers, therefore token mobility is limited.
#TRUMP #ETH5kNext? #CPIWatch
#WLFI #BTCBreaksATH $USD1
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
