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02/08 13:28

Cryptocurrency News Today: Trump Jr. Declares Cryp

Cryptocurrency News Today: Trump Jr. Declares Cryptocurrency as New Weapon of US Economic Hegemony

Donald Trump Jr. made a surprise appearance at the Ondo Summit in New York City on Thursday, sharing his strong belief in the future of cryptocurrencies and saying they could play a key role in ensuring the economic dominance of the United States. “I think this is probably the future of American hegemony in terms of our economic standing and our economic power,” he said, according to CoinDesk.

“We really need to create a framework that allows [cryptocurrency], which I think is the future of finance, to work so that people understand what it is, but don’t let it get over-regulated by people who don’t know what they’re talking about, or you’ll lose everything that it stands for,” Trump Jr. added.

The news was announced at the summit by World Liberty Financial (WLF), a cryptocurrency project backed by the Trump family, which recently invested in its own cryptocurrency, Ondo Finance.  The move demonstrates the Trump family’s desire to expand its influence in the crypto space.

WLF has also recently invested in various cryptocurrencies including Ethereum, Bitcoin, and more, purchasing around $470,000 worth of ONDO tokens. As part of its broader strategy, the company is gearing up to launch the “Ondo Chain,” a layer-one blockchain designed specifically for tokenized assets.

WLF co-founder Chase Herro also shared some exciting developments, including plans to launch a “strategic reserve” of crypto assets. The reserve will provide additional liquidity and support to the crypto ecosystem, offering investors more diverse options in the growing market.

The focus on crypto coincides with TMTG’s plans to launch a Bitcoin-backed ETF called the Truth.Fi Bitcoin Plus ETF, demonstrating the company’s interest in both traditional and digital asset investments. 

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