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In a letter to shareholders, CEO Tony Isaac said the gap between the company’s stock price—which is down more than 85 per cent from six months ago—and the assets it holds on its balance sheet “represents opportunity.” The company is trying to close the gap by being more transparent, generating yield on the nearly US$1 billion in World Liberty Financial tokens it holds and integrating World Liberty’s stablecoin, USD1, into its payment products, he said. (The Logic)
Talking point: Isaac also said the company is “resolving outstanding matters,” a nod to the turmoil the firm has faced, which includes suspending its former CEO and disclosing a money-laundering conviction in Rwanda. Alt5 Sigma, a publicly listed company with offices in Toronto and Montreal, merged with the Trump family’s startup World Liberty Financial in August. A crash in crypto prices in recent months wiped out about US$1 billion of the Trump family fortune, Bloomberg reported.
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