Trump-Linked Crypto Partner Alt5 Sigma Drops Auditor After License Lapse Exposed

Alt5 Sigma, the Nasdaq-listed fintech firm managing the digital asset treasury for the Trump-linked World Liberty Financial (WLFI), has dismissed its newly appointed auditor following revelations that the firm lacked a valid license.

The company has now appointed L.J. Soldinger Associates as its independent registered public accounting firm, marking its third auditor in less than two months. The rapid turnover introduces deep uncertainty around the financial controls of a high-profile crypto venture tied to the President-elect's family.

What happened

On December 25, 2025, Alt5 Sigma’s audit committee formally dismissed Victor Mokuolu CPA PLLC. The dismissal came after the Financial Times reported that Mokuolu’s firm license had expired in August and remained inactive, barring it from legally performing audits in Texas.

This was a critical lapse in due diligence: Alt5 Sigma had appointed Mokuolu on December 8 to replace its previous auditor, yet the firm was legally unable to issue the audit reports needed to save Alt5 from Nasdaq delisting.

To fill the void, Alt5 Sigma immediately engaged L.J. Soldinger Associates to take over the audit for the fiscal year ending December 2025.

A pattern of Discrepancies

The crisis with Mokuolu is just the latest chapter in a chaotic quarter for the company’s governance.

It follows a public dispute with its previous auditor, William Hudgens, regarding his resignation. While Alt5 Sigma disclosed to the SEC that Hudgens resigned on November 21, Hudgens told reporters he had notified the company months earlier, in June, that he would cease auditing public companies.

This discrepancy is significant because securities laws require companies to report auditor resignations within four days. If Hudgens is correct, Alt5 Sigma may have delayed disclosing a material governance failure for months.

Why It Matters

Alt5 Sigma is not a peripheral player; it is the designated treasury manager for World Liberty Financial, a project where the Trump family is entitled to a significant share of net revenues.

The governance collapse (missing quarterly filings, hiring an unlicensed auditor, and firing two auditors in weeks) heightens counterparty risk for WLFI investors. It also invites aggressive scrutiny from regulators, who may view the chaotic oversight as a red flag for a company managing assets linked to the presidency.

Stack 10% More on Your First BTCC Deposit

Start Trading

What comes next

The immediate pressure is on the new auditor, L.J. Soldinger Associates, to complete the overdue Q3 financials and prevent a Nasdaq delisting.

For the broader market, the episode serves as a stark warning: political connections do not exempt crypto projects from basic corporate governance. If Alt5 Sigma cannot stabilize its reporting soon, the reputational damage could spill over to the World Liberty Financial brand itself.