A cryptocurrency company that partnered with the Trump family's World Freedom Financial has dismissed its auditing firm, which was hired just weeks ago, and whose license reportedly expired in August.

Cryptocurrency processor OT-5 Sigma, which was a relatively unknown Nasdaq-listed company prior to August this year, subsequently entered into a $1.5 billion cooperation agreement with World Freedom Financial, a cryptocurrency venture co-founded by two of former President Trump's eldest sons. The deal utilizes OT-5 Sigma as a vehicle to acquire and custody the $WLFI crypto tokens issued by World Freedom Financial.

Following the announcement of the cooperation agreement, OT-5 Sigma's stock price plummeted by more than 80%. Previous reports indicated that, plagued by legal and regulatory issues, the company has seen two CEOs depart, one of whom was reportedly convicted for alleged money laundering in Rwanda; several other executives have also resigned or been dismissed.

In early December of last year, after the previous auditing firm resigned, OT-5 Sigma appointed Victor Mokulu CPA as its new independent auditor. However, disclosures on Monday revealed that the license for this newly appointed auditing firm had expired in August, meaning it is currently prohibited from conducting audit work.

OT-5 Sigma stated in a securities filing on Monday that it dismissed the auditing firm on Christmas Day and formally appointed L J Soldinger & Associates as its new auditor.

OT-5 Sigma had previously stated that Victor Mokulu CPA was undergoing a peer review as required by the Texas State Board of Public Accountancy, with the review originally scheduled for completion in January 2026. The auditing firm received an unsatisfactory rating in its 2023 peer review and was also fined by the Public Company Accounting Oversight Board for financial reporting disclosure violations during the 2023-2024 period.