Alt5 Sigma has suspended and ousted Chief Executive Peter Tassiopoulos.
Jonathan Hugh was named acting CEO while continuing in his current position as chief financial officer.
Tassiopoulos was appointed chief executive in August 2024.
Alt5 does business as a cryptocurrency treasury, accumulating World Liberty’s crypto. As of Wednesday’s close, shares had lost 60% of their value. The stock dropped another 9% to $1.88 in after-hours trading.
In mid-August, the company said it agreed to offer 100 million shares at a purchase price of $7.50 a share.
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