Catenaa, Saturday, February 15, 2025 – World Liberty Financial, a decentralized finance (DeFi) project associated with former President Donald Trump, intended to establish a “strategic reserve” with purchased tokens, co-founder Chase Herro said Thursday.
Herro spoke on a panel at startup Ondo Finance’s inaugural summit in New York, where he was introduced by Donald Trump Jr. Other co-founders, Zak Folkman and Zach Witkoff, also joined the discussion. Witkoff is the son of real estate developer Steve Witkoff, a Trump ally who was recently named Trump’s envoy to the Middle East.
Herro did not specify the purpose of the planned reserve, a topic that has gained traction since Trump pledged to form one during his campaign last year. In January, Trump signed an executive action calling for an evaluation of a digital asset stockpile.
Trump Jr.’s presence at the Ondo Summit further underscored the Trump family’s engagement with the crypto sector. His remarks came after World Liberty Financial purchased $470,000 worth of ONDO, the native token of Ondo Finance, earlier that day. Attendees eagerly sought photos with Trump Jr., who spoke about the company’s involvement in the digital asset space.
Earlier this week, World Liberty Financial acquired tens of millions of dollars’ worth of Ether following a market downturn triggered by temporary U.S. tariffs on Mexico and Canada. Although marketed as a DeFi lending platform, World Liberty Financial has yet to become operational and is primarily known for token acquisitions.
Since its October launch, concerns have emerged over potential conflicts of interest as Trump’s sons—Donald Jr., Eric, and Barron—serve as Web3 advisors to the project. The family has actively promoted the platform via social media and public events.
The conference also featured remarks from House Financial Services Committee Chair Patrick McHenry, acting Commodity Futures Trading Commission Chair Caroline Pham, and former CFTC Chairman J. Christopher Giancarlo, who praised the Trump administration’s regulatory efforts in crypto.
Meanwhile, William Hinman, a senior advisor at venture capital firm Andreessen Horowitz, cautioned that regulatory shifts in Washington would take time. “It’s going to take time for the SEC to demonstrate a more favorable regulatory approach,” he said, referring to the Financial Innovation and Technology for the 21st Century Act.
