World Liberty Financial, a DeFi project backed by Donald Trump, plans to create a strategic reserve using purchased tokens.
World Liberty Financial's Crypto Purchases
World Liberty Financial has been actively acquiring digital tokens, signaling its intention to diversify its crypto portfolio. On Feb. 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, WLF does not hold Bitcoin, despite Eric Trump's recent suggestion that Bitcoin at $98,000 would be a good entry point.
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, enhancing the project's visibility. During the Ondo Summit, Donald Trump Jr. emphasized the importance of digital assets for the future of the U.S. economy, stating that cryptocurrency could become a cornerstone of America's financial dominance.
The Future of U.S. Digital Assets
The Ondo Summit on Feb. 6 featured industry leaders and government figures, including former Commodity Futures Trading Commission Chairman J. Christopher Giancarlo. He noted that while the Trump administration has reversed some past policies, establishing clear and effective regulations for crypto assets will take time. William Hinman, Senior Advisor at Andreessen Horowitz, suggested that legislative efforts to update crypto regulations will require patience.
The creation of World Liberty Financial's strategic crypto reserve may significantly impact the future of digital asset regulation in the U.S., given the substantial influence of the Trump family.
