Trump-linked company AI Financial sells core business for $15 million

The payment company AI Financial, which is linked to the Trump family, is in talks to sell its core business for up to $15 million. The deal is not yet final and could still go in any direction, but the development casts an unflattering light on an investment that has cost almost everyone except the Trumps themselves a great deal of money.

From $750 million to $15 million

About a year ago, World Liberty Financial (WLFI), the Trump family’s crypto project, took control of the then-listed Alt5 Sigma via WLFI tokens. The company, now renamed AI Financial, subsequently raised $750 million to buy even more WLFI tokens. A decision with major consequences: the WLFI token dropped by 70%, and the share price of AI Financial on the Nasdaq plunged more than 90%. The company’s market value now stands at around $80 million, reports The Wall Street Journal.

These are dramatic figures for the shareholders who got in at the time. The purchases of WLFI tokens by AI Financial did generate around $540 million for Trump-related entities, as the Trump family is entitled to 75% of the proceeds from WLFI token sales.

Perpetuals.com as buyer

The potential buyer of the core business is Perpetuals.com, a Tokyo-based blockchain technology company. This is according to a company filing and documents seen by the newspaper. The negotiations centre on an amount of up to $15 million, although an insider emphasises that the terms of the deal are not yet final and that talks are still ongoing.

AI Financial, formerly Alt5 Sigma, is listed on the Nasdaq under the ticker AIFC. Whether the sale of its core business will breathe new life into the company or instead spell the end of its current form remains unclear. As long as there is no definitive agreement, everything remains open.