Nasdaq has listed Alt5 Sigma as a non-compliant company, stating that it "no longer meets the continued listing standards."

Nasdaq has placed Alt5 Sigma, which has a partnership with the Trump family, on the "non-compliant companies" list due to its failure to submit the 10-Q report for the third quarter of 2025 to the SEC. Nasdaq's notification stated that the company "no longer meets the continued listing standards." According to relevant rules, Alt5 Sigma must submit a plan to regain compliance by January 20, 2026, and if approved, may receive up to 180 days to rectify the situation.

Alt5 Sigma stated that this notification was expected and will not affect its stock trading on Nasdaq in the short term.

Reports mentioned that the delay in the company's quarterly report is related to several issues mentioned in documents from August this year, including management compensation, adjustments to the board structure, amendments to the bylaws, a ruling against a subsidiary in Rwanda, and the personal bankruptcy of the former CFO. Its independent auditing firm, Hudgens CPA, resigned on November 21, further delaying financial reporting.

This year, Alt5 Sigma accumulated $1.5 billion in WLFI tokens related to a deal with the Trump family's cryptocurrency project, World Liberty Financial (WLFI), and granted the project a seat arrangement on the company's board. The transaction and governance turmoil have attracted market attention.

As of Tuesday's close, the 728 million WLFI tokens held by Alt5 Sigma were valued at approximately $1.2 billion, far exceeding its market value of $191 million; the company's stock price closed at $1.56 that day, down more than 80% from when the WLFI transaction was announced.