World Liberty Financial, a decentralized finance (DeFi) project backed by Donald Trump and his family, announced plans to create a strategic reserve of crypto assets.
Strategic Reserve Creation Plan
Co-founder Chase Herro confirmed the development but did not disclose specifics about its size or intended use. This initiative aligns with Trump's previous proposals to create a digital asset stockpile discussed during his presidential campaign.
Crypto Investments of World Liberty Financial
World Liberty Financial has been actively diversifying its crypto portfolio. On Feb. 6, they invested $470,000 in Ondo Finance's ONDO token. Their portfolio also includes major cryptocurrencies like Ethereum (ETH), Tron's TRX, AAVE, and Chainlink's LINK. Interestingly, Bitcoin is not part of their holdings despite their focus on altcoins.
Trump's Influence on Crypto Policy
The Trump family's involvement in the crypto industry sparks discussions about potential conflicts of interest. Donald Trump Jr., Eric Trump, and Barron Trump serve as Web3 Advisors for World Liberty Financial, enhancing the project's visibility. At the recent Ondo Summit, Trump Jr. emphasized the importance of digital assets for the future of the U.S. economy. Clarity and effective regulations for crypto, highlighted during the summit, are expected to evolve gradually as discussions on crypto policy development continue.
World Liberty Financial's efforts to establish a crypto reserve underscore their aim to secure a significant position in DeFi. The Trump family's influence and views on crypto policy attract interest and debate regarding future legislative developments in this field.
