In mid-May 2026, while Eric Trump traveled with his father on the presidential trip to Beijing, MS NOW host Jen Psaki covered a Financial Times report that Alt5 Sigma, a fintech company tied to the Trump family's crypto venture World Liberty Financial, was exploring a deal with a Chinese chipmaker that members of Congress have warned is connected to the Chinese Communist Party. In that first monologue, Psaki said Eric Trump “sits on the board” of Alt5. His spokesperson had said he was joining his father in a personal capacity, would not take part in business meetings, and had no business ties to China; the White House told the Financial Times there were “no conflicts of interest.”
On Friday, May 15, Eric Trump wrote on X that he would sue Psaki and MS NOW: “Contrary to her monolog and blatant lies, I have NEVER been on the board of ALT5—not now, not ever.” He added, “I have zero business interests in China. No properties, no investments, nothing!” and said he joined the trip “as a loving son who adores my father.”
That night Psaki aired a clip from an August 2025 Nasdaq opening-bell ceremony in which an announcer said, “It is my great pleasure to welcome Alt5 board member Eric Trump,” and Alt5 chairman Zach Witkoff welcomed him as a “fellow board member.” She also conceded, “We do know that he's not currently a director on the board,” and said his role had “at the very least, been complicated.”
The company's own filings show why. An Alt5 press release filed with the SEC in August 2025 said “Eric Trump became a director on the Company's board of directors.” An 8-K filed August 29, 2025 then said that “after discussion with The Nasdaq Stock Market LLC,” and to comply with its listing rules, “Both Eric Trump and Zachary Folkman have been designated as observers.” The record therefore shows Alt5 publicly announcing Eric Trump as a director, then recasting him as a board observer within weeks; it does not show whether he ever formally served as a director. Alt5 bought about 7.5% of World Liberty's token supply in the same August 2025 deal.
Correction (October 2, 2026): The entry dated these events May 16; Eric Trump's post and Psaki's response came on Friday, May 15. It said Psaki showed a press photo and SEC filings saying he was on the board; she aired a video clip, cited a filing announcing his appointment as a director, acknowledged he is now an observer, and had herself said in her first monologue that he “sits on the board.” It attributed the “personal capacity” framing to the White House; that came from Eric Trump's spokesperson. Its characterization of Alt5 as having “Chinese-entity touchpoints” was replaced with the specific Financial Times report, and its closing analysis of what the denial “removes” from the ethics question was cut.