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Alt5 Sigma, a publicly listed company with offices in Toronto and Montreal, merged with the Trump family’s startup World Liberty Financial in August. Since then, Alt5 Sigma has suspended its CEO, disclosed a money-laundering conviction in Rwanda and seen its shares lose three-quarters of their value. (The Information)
Talking point: The Trumps hitched their family fortune to crypto during the boom times, drawing allegations of conflicts of interest as they launched a series of digital asset ventures as President Donald Trump loosened regulations on the industry. Now, they’re experiencing the other side of the sector’s wild volatility. A crash in crypto prices in recent months has wiped out about US$1 billion of the Trump family fortune, Bloomberg reported. American Bitcoin, another digital asset company born of a merger between a Trump vehicle and a Canadian-founded firm, has lost about a third of its value since its public debut in September.
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