Eric Trump and Donald Trump Jr. appeared at NASDAQ one week ago to ring the opening bell, announcing a $1.5 billion acquisition of biotech-turned-crypto payment company ALT5 SIGMA CORPORATION (ALTS.US) and the Trump family-backed crypto project World Liberty Financial. This move quickly attracted blue-chip hedge funds to enter the market.
According to reports, both Point72 and ExodusPoint hedge funds hold stakes in Alt5 Sigma, with the former holding a $26.7 million position and the latter reducing its stake slightly to 4.75% (valued at $32.1 million) within a week after August 11th.
According to the latest disclosure documents, Point72 Asset Management, under Steve Cohen's leadership, holds a 4% stake in Alt5 Sigma through its funds. Despite the stock's 10% plunge to $5.48 on Tuesday, its position value still reaches $26.7 million. Notably, Point72's shareholding is not Cohen's personal action but completed through institutional funds.
Another capital giant, ExodusPoint Capital Management's main fund, held approximately 6.2 million shares of Alt5 Sigma on August 11th, accounting for over 5% of outstanding shares. However, it reduced holdings to 5.9 million shares within the following week, with current shareholding dropping to 4.75%, corresponding to a market value of $32.1 million.
Both institutions declined to comment on transaction details, and Alt5 Sigma did not respond to interview requests.
Behind this capital feast is Alt5 Sigma's dramatic transformation. This company, formerly known as JanOne, was a biotech firm that fell into delisting crisis last year with a market cap once below $25 million. After rebranding as a fintech enterprise, it achieved a remarkable turnaround through a $1.5 billion directed share issuance and "WLFI Financial Strategy" - World Liberty Financial injected 7.5% of its token supply into Alt5 Sigma in exchange for 100 million shares, with Eric Trump simultaneously joining the board of directors.
Last week, the company's market cap broke through the historic high of $900 million. Although token trading has not yet opened, World Liberty CEO Zach Witkoff (son of U.S. Middle East envoy Steve Witkoff) revealed that holders will gain liquidity rights "in the coming weeks."
The equity structure shows that entities associated with the Trump family hold a 40% stake in World Liberty's parent company. Co-founders include Donald Trump Jr., Barron Trump, and Alex Witkoff, while Trump himself and Steve Witkoff are listed as "Honorary Co-founders."
This capital operation involving both political and business circles is becoming a new focal point where the crypto market intersects with traditional finance.