SAN FRANCISCO: Perpetuals.com acquisition talks to buy AI Financial Corporation’s Alt5 Sigma Canada unit have ended, the fintech company said Tuesday.
Perpetuals.com said it would not pursue the acquisition and had terminated the earlier letter of intent.
The US-based, Japan-headquartered company had announced on July 7 that it had signed a non-binding term sheet to explore the deal. It said then that due diligence was underway and no decision had been made.
AI Financial Corporation, formerly known as ALT5 Sigma, trades on Nasdaq under the ticker AIFC, according to a company announcement carried by Morningstar.
The deal drew attention because AI Financial had earlier partnered with World Liberty Financial, a crypto venture backed by the Trump family.
Read: Trump Crypto Venture Shares Networks With Iran Exchange
Reuters previously reported that ALT5 Sigma raised US$750 million by selling new shares and used US$717 million to buy World Liberty tokens.
The purchase sent more than US$500 million to the Trump family under its arrangement with World Liberty Financial.
Since the August 11, 2025, deal, ALT5’s share price has fallen from above US$9 to about 53 cents on Tuesday. Representatives for AI Financial did not immediately respond to a request for comment.
