Perpetuals.com ends acquisition talks with Trump-linked crypto firm

BOSTON, July 14 (Reuters) - Perpetuals.com PDC.O, a global fintech company, has discontinued discussions to potentially acquire part of a business closely affiliated with World Liberty Financial, the crypto venture backed by the Trump family, according to a press release issued by Perpetuals on Tuesday.

“Perpetuals has decided not to further pursue the acquisition of AI Financial Corporation’s subsidiary Alt5 Sigma Canada, Inc. and the earlier letter of intent has been terminated,” the statement said.

Representatives for AI Financial AIFC.O, previously known as ALT5 Sigma, did not immediately respond to a request for comment.

U.S.-based, Japan-headquartered Perpetuals had announced on July 7 that it had signed a non-binding term sheet to explore the potential acquisition.

Last August, World Liberty Financial partnered with a small, loss-making Nasdaq-listed company called ALT5 Sigma and struck a deal under which ALT5 Sigma raised $750 million by selling new shares and used $717 million of that to buy World Liberty tokens. That purchase sent more than $500 million to the Trump family, Reuters reported, based on the Trumps’ arrangement with World Liberty Financial.

Since August 11, 2025, the date of the deal, the ALT5 share price has plummeted from above $9 to around 53 cents on Tuesday, causing steep investor losses.