Tony Isaac, the newly appointed CEO of ALT5 Sigma Corporation, a fintech company that operates a global clearing, trading and payments infrastructure for institutional investors, has addressed investor concerns regarding the disconnect between crypto reserves and business market capitalization valuations.
A letter issued to shareholders by recently appointed CEO Tony Isaac began with Isaac emphasizing his return to work. “I am returning to the role of CEO at ALT5,” the letter began. “I focus on immediate execution and transparent communication to unlock the real value embedded in our business.”
Isaac also noted that AlphaTON Capital and PagoPay recently selected the company's infrastructure for Mastercard's cryptocurrency spending program as validation of the technology through a real-world commercial partnership.
However, the company, which has a market capitalization of about $150 million, cannot avoid questions about the fact that it manages billions of dollars in crypto reserves, which has investors concerned.
ALT5 Sigma CEO defends WLFI Treasury
Tony Isaac said the relationship between ALT5 and World Liberty Financial Inc. is a significant opportunity.
“This relationship has the potential to position us within the emerging digital financial ecosystem and may provide long-term strategic advantages,” his letter said.
To this end, the company is exploring opportunities to integrate the Trump-linked USD1 stablecoin into its payments platform and working to leverage its network.
Isaac believes the company's $WLFI financial strategy represents a natural evolution of the payments business, rather than a departure from it. The company currently holds approximately $7.3 billion of WLFI tokens, which is worth approximately $1 billion at current prices.
Addressing the evaluation disconnect
“We believe that our current stock market value of $155.5 million1 means that the market is valuing our $WLFI token holdings significantly below the underlying value and that the payments business operated by ALT5 has limited value,” Isaac wrote, addressing the elephant in the room. “Bridging this gap remains our core focus and will be driven by disciplined execution, continued operational progress and transparent communication with our shareholders.”
Typically, digital asset treasury companies tend to strike a balance between the crypto assets they hold and the overall health of their business. Even the OG crypto reserve, Michael Saylors Strategy, has had to balance commitments with investors, regulators, and its Bitcoin accumulation business.
Isaac's twist on this situation is that this is an opportunity to buy the company's stock at a discount, especially given the potential of the company's large payments platform.
He claims that the company will prove itself in its focus areas and deliver tangible results in the coming months.
Who is the new CEO of ALT5 Sigma?
Tony Isaac has been an executive at the company since 2015, when he was a director, and was appointed CEO in 2016.
He reportedly resigned at some point in 2024, when the company was undergoing a strategic shift to rebrand and focus on fintech. He was later replaced by Peter Tassiopoulos.
The reason for his resignation was not given in public documents at the time.
However, ALT5 Sigma Corporation announced Tassiopoulos' suspension through the SEC on October 22, 2025. filingclaimed that he was suspended with pay by the board of directors on the 16th of the same month, and that he was subsequently removed from his position as CEO.
At the time of the suspension, no reason was given in SEC filings or subsequent announcements.
Tasiopoulos was replaced by chief financial officer Jonathan Hu, who became acting CEO before being removed from both roles without “reason” in November. Four days later, Chief Operating Officer Ron Pitters was told his contract for that role would not be renewed, even though he remains a board member.
The rapid reshuffle means ALT5 will become its third CEO in six weeks, with current CEO Tony Isaac continuing in his other roles and receiving no new contract or compensation package for his added responsibilities, according to the filing.
The company also named veteran accountant Stephen Plumb as its new CFO. The board also disbanded a special committee that had been investigating undisclosed internal matters. The findings were shared with the board, the filing claimed.
