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02/08 08:17

Cryptocurrency News Today: Trump Jr. Declares Cryp

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

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Trump Jr. is backing cryptocurrency as key to US economic dominance, calling for balanced regulatory framework for future growth.

WLF Invests $470K in ONDO, Plans Ondo Chain Launch, Cryptocurrency Strategic Reserve to Boost Liquidity, Expand Market.

During a surprise appearance at the Ondo Summit in New York on Thursday, Donald Trump Jr. shared his strong belief in the future of cryptocurrency, saying it could play a key role in securing American economic dominance. “I think this is possibly the future of American hegemony in terms of our economic status, our economic power,” he said, according to CoinDesk.

  “We have to create that framework where [cryptocurrency], which I think is the future of finance, where we can play, where there’s an understanding of what it is, but also where it’s not so over-regulated by people who don’t know what they’re talking about that you lose everything it stands for,” Trump Jr. added.

Read Also: Why Is the Crypto Market Crashing? Bitcoin’s Crash and Altcoin Selloff Explained

WLF Invests in Ondo and Cryptocurrency Rise

The summit saw an announcement from World Liberty Financial (WLF), a crypto project backed by the Trump family, which recently invested in its own cryptocurrency, Ondo Finance. The move signals the Trump family’s commitment to expanding its presence in the crypto space.

In addition, WLF has recently invested in a variety of cryptocurrencies, including Ethereum, Bitcoin, and more, purchasing about $470,000 worth of ONDO tokens. As part of a broader strategy, the company is preparing to launch the “Ondo Chain,” a layer-one blockchain designed for tokenized assets. 

Chase Herro, co-founder of WLF, 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 a growing market. 

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

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