ALT5 Sigma Under Scrutiny After Hiring Unlicensed Auditor

Nasdaq-listed ALT5 Sigma, a fintech firm offering blockchain-powered technology for digital assets like crypto trading, is now facing renewed scrutiny after a report found that the firm’s newly appointed auditor is barred from performing audits.

According to reports, the Trump-linked crypto firm ALT5 Sigma moved to replace its previous auditor earlier in December, after failing to file its Q3 financial results by the required deadline.

However, it appointed a small Texas-based accounting firm called Victor Mokuolu CPA PLLC, which does not currently hold an active firm license.

According to the state filings, the company’s license expired earlier this year, in August. The firm has not renewed it since, which means that it may not conduct audit work according to the laws and regulations of the state of Texas.

The reports noted that Victor Mokuolu, the founder of the firm, renewed his personal CPA license on August 31. However, the company itself has officially been inactive, and will remain as such in the eyes of the law until it completes the licensing process and gets permission to conduct its business again.

Another Issue For ALT5 Sigma Which Could Result In Nasdaq Delisting

Since the matter came to light, ALT5 Sigma acknowledged the problem, and it said for media outlets that no reviews or audits of its financial statements will be issued until the license has been reactivated.

The firm also said that its new auditor is currently going through a mandatory peer review overseen by the Texas State Board of Accountancy, with completion expected by the end of January 2026.

Even so, this represents another problem that joins a growing list of compliance concerns surrounding ALT5 Sigma. So far, the firm has undergone multiple strategic pivots over the last several years, transitioning from an appliance recycling business to biotech, then fintech, and eventually crypto.

As mentioned, the firm has links to the Trump family, as it is backed by World Liberty Financial – the Trump family’s crypto venture. Another issue lies with the fact that there are records showing that Victor Mokuou CPA PLLC has previously missed filing deadlines, which led to an enforcement action from the Public Company Accounting Oversight Board, as well as the state authorities.

All of this further adds to the issues surrounding ALT5 Sigma, whose operational challenges have already started impacting its stock. The firm’s shares dropped 77% since the start of 2025, which reflects the growing investor unease. With yet another episode now involving its new unlicensed auditor, the firm is facing potential delisting from Nasdaq, especially since it missed the deadline to file its quarterly report for the period ending September.