ALT5 Sigma, a fintech firm that shifted to a digital asset treasury model focused on World Liberty Financial tokens, is facing significant internal issues. The company's stock has plummeted around 80% since it announced this new strategy in August 2025. Following the pivot, several senior executives either resigned or were dismissed, and the company warned employees about potential litigation and regulatory scrutiny. The specifics of these investigations remain unclear, but the SEC and FINRA have been looking into unusual trading patterns among various digital asset treasuries. In a troubling development, a Rwandan court found ALT5 Sigma guilty of money laundering earlier this year, a conviction that was reportedly not disclosed to the company's board prior to its partnership with World Liberty. This lack of transparency raises serious questions about the governance practices within ALT5 Sigma. The firm had ambitious plans to raise $1.5 billion for its treasury strategy, but the internal chaos and regulatory challenges could undermine those efforts. Overall, the situation paints a picture of a company in crisis, struggling to navigate the complexities of the digital asset space amidst growing scrutiny.