Perpetuals.com explores buying Trump-linked AI Financial's Canadian unit

Perpetuals.com Ltd (Nasdaq: PDC) has signed a non-binding term sheet to explore buying the Trump-linked fintech, Alt5 Sigma Canada, Inc. The fintech company was known as ALT5 Sigma Corporation until April. If the deal closes, it could be worth up to $15 million and function as a lifeline for the company that has warned it may not survive the year. Why is AI Financial selling its core business? Perpetuals.com Ltd (NASDAQ: PDC) has signed a non-binding term sheet to explore buying Alt5 Sigma Canada Inc., a profitable subsidiary of AI Financial Corporation (Nasdaq: AIFC). The term sheet was disclosed on July 7 in a statement from Matthew Nicoletti, chief strategy officer at Perpetuals. Nicoletti said Perpetuals is still running due diligence and emphasized that nothing has been finalized as the company is still weighing how the purchase might fit its product roadmap. What is Trump’s connection? AI Financial was ALT5 Sigma Corporation (Nasdaq: ALTS) until it announced a rebrand and ticker change in April, according to Reuters. The Las Vegas firm, in 2025, recorded roughly $24.8 million in fintech revenue and processed about $3.5 billion in transactions, with more than $8 billion in cumulative volume since inception. It also lost $5.86 per share over the trailing twelve months. Cryptopolitan reported that Alt5 tied itself to World Liberty Financial, the Trump family’s crypto venture, through a $1.5 billion crypto reserve arrangement. Through that arrangement, World Liberty received stock and board seats. Eric Trump appeared on the company’s leadership page as an adviser and board observer as recently as March, then disappeared from it by late April . In its most recent annual filing, AI Financial recorded a loss of more than $341 million and told investors there was serious doubt about whether it could keep operating for another year. Before the deal can be completed , Perpetual laid out that first, due diligence must be completed, they have to agree on a price, sign the definitive documents, get board approval, and clear regulators. The company said it will present to investors at the Global Technology Virtual Investor Conference on July 9 and the Emerging Growth Conference on July 15, where questions about the proposed deal are likely to surface. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .