World Liberty Financial, backed by former President Donald Trump and his family, aims to form a 'strategic reserve' using purchased tokens.
World Liberty Financial's Crypto Purchases
World Liberty Financial (WLF) has been actively acquiring digital tokens to diversify its crypto portfolio. On February 6, WLF invested $470,000 in Ondo Finance's native token, ONDO. Additionally, it purchased major cryptocurrencies such as Ethereum (ETH), Tron's TRX, AAVE, and Chainlink's LINK. Despite Eric Trump's suggestion to invest in Bitcoin when it was priced around $98,000, WLF has opted not to include Bitcoin in its holdings. Chase Herro, the project's co-founder, emphasized WLF's long-term interest in crypto investments.
Trump’s Influence on Crypto Policy
The Trump family's involvement in the crypto industry has prompted discussions about potential conflicts of interest. Donald Trump Jr., Eric Trump, and Barron Trump serve as Web3 Advisors for WLF, drawing significant public attention to the project. The Trump administration's policies on cryptocurrency regulation are likely to be pivotal in shaping the future of U.S. digital asset regulations.
The Future of Crypto Regulation
During the Ondo Summit, Donald Trump Jr. underscored the importance of digital assets for the U.S. economy's future. Former CFTC Chairman J. Christopher Giancarlo noted that setting clear and effective regulations will require time. William Hinman of Andreessen Horowitz agreed, highlighting the need for careful legislative improvements.
The World Liberty Financial project highlights the significant influence of the Trump family in the crypto industry. Their involvement and support could play a crucial role in shaping the future of crypto regulation in the U.S.
