World Liberty Financial (WLF), a project backed by US President Donald Trump and his family, aims to create a 'strategic reserve' of cryptocurrencies, continuing Trump's initiatives in forming digital asset stockpiles.
WLF's Crypto Purchases
World Liberty Financial has been actively acquiring digital tokens, signaling its intention to diversify its crypto portfolio. On February 6, WLF invested $470,000 in Ondo Finance's native token, ONDO. The platform has also purchased other major cryptocurrencies like Ethereum (ETH), Tron's TRX, AAVE, and Chainlink's LINK. Interestingly, while WLF has focused heavily on Ethereum and other altcoins, it does not currently hold Bitcoin.
Trump’s Influence on Crypto Policy
The Trump family's involvement in the crypto industry has sparked discussions about potential conflicts of interest. Donald Trump Jr., Eric Trump, and Barron Trump are listed as Web3 Advisors for WLF. At the Ondo Summit on February 6, Trump Jr. emphasized the importance of digital assets for the future of the U.S. economy.
Future of Crypto under Trump Administration
The Trump administration and its influence over cryptocurrency regulation could shape the future of digital asset laws in the U.S. The summit also featured former CFTC Chairman J. Christopher Giancarlo, who noted that establishing clear and effective rules for crypto assets will take time.
The Trump family's backing of the World Liberty Financial project and its continued involvement in the digital asset space could significantly influence the future of cryptocurrencies in the U.S., sparking both enthusiasm and discussions of potential conflicts of interest.
