ALT5 Sigma, a crypto firm linked to Trump, is under regulatory scrutiny for employing unlicensed auditors. State records indicate the firm's auditing license expired in August and remains unrenewed as of December, contravening Texas law. The company asserts that its auditors are undergoing a mandatory peer review by the Texas State Board of Public Accountancy, expected to conclude by the end of January. The regulatory issues have significantly impacted ALT5 Sigma's market performance, with its stock price plummeting over 77% since early 2025 due to non-compliance with disclosure regulations. The firm also faces the risk of being delisted from Nasdaq after failing to submit its September quarterly report, contributing to growing investor unease.