A partner of the Trump family’s World Liberty Financial (WLFI), ALT5 Sigma, has rejected reports suggesting one of its associates is under investigation by the US Securities and Exchange Commission (SEC).
Reports by The Information claimed venture capitalist Jon Isaac was being probed for inflating earnings and selling shares linked to ALT5’s $1.5 billion deal with Trump’s crypto venture.
In response, ALT5 shared on X that Isaac is not a past or present leader at the company and that it has no knowledge of any SEC inquiry.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is Decentralized Crypto Gambling? (Animated Explainer)
Isaac also stated in a post on X that he has never been ALT5’s president and is not facing any SEC action. He explained that he once took over JanOne, the firm that later rebranded as ALT5 in 2024, but left before that process was complete.
Although not in a management role, Isaac has financial ties to the company. He is the CEO of Live Ventures, a related investment business, and holds more than one million ALT5 shares worth over $5.48 million.
Additionally, a December 2024 document by the SEC shows ALT5 signed a two-year consulting deal with Jon Isaac in March 2024.
Under this agreement, he provided advice on business growth, restructuring, new products, and client acquisition. He was also expected to hold weekly check-ins with the company’s management.
On August 11, Justin Sun, the founder of TRON
$0.3519
, filed a lawsuit against Bloomberg. What happened? Read the full story.
