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Yahoo
12-02-2025
- Business
- Yahoo
Trump's crypto company launches strategic 'token reserve'
By Michelle Conlin NEW YORK (Reuters) - World Liberty Financial, the new crypto platform in which President Donald Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to bolster Bitcoin, Ethereum and other cryptocurrencies "that are at the forefront of reshaping global finance." WLF said in a statement posted on X on Tuesday that its new token reserve would enable it to mitigate market volatility, empower the company to invest in innovative projects in decentralized finance, and develop a well-capitalized reserve. It also said it would seek strategic partnerships with financial institutions to contribute tokenized assets to the WLF reserve. WLF did not respond to a request for comment. The White House and the Trump Organization also did not respond to requests for comment. The announcement comes at a time when Trump and his family businesses are increasingly turning to making money from the world of crypto. In addition to WLF, the Trump family's holdings include a majority stake in Trump Media & Technology Group, a social-media-and-streaming company that on January 29 announced it was pivoting into financial services tied to crypto. Three days before his inauguration, the president also launched his $Trump meme coin. Millions of dollars, including $100 million in fees alone off of the meme coin, have poured into entities connected to the president's new suite of crypto companies. WLF has already seen token sales of $500 million, by Reuters calculations. In January, Trump said his assets, which are in a revokable trust, would be managed by his children while he is in office. World Liberty Financial launched two months ahead of the U.S. presidential election. Trump and his affiliates own a 60% stake in its holding company and are entitled to 75% of revenues and 22.5 billion tokens, according to the company's website. The news comes just three days after Donald Trump Jr., the president's eldest son, made a surprise appearance at the Ondo Summit in New York City, billed as Wall Street 2.0. There, Trump and company founders told attendees, most of whom were from traditional finance, that WLF's aim was to bridge the gap between the world of crypto and mainstream retail investors such as teachers, firemen and dentists. Donald Trump Jr. emphasized the need for a regulatory framework that would allow 'crypto to flourish.' Crypto, he said, is the 'future of finance' and the 'future of American hegemony.' (Reporting By Michelle Conlin and Lawrence Delevingne; Editing by Leslie Adler) Sign in to access your portfolio
Zawya
12-02-2025
- Business
- Zawya
Trump's crypto company launches strategic 'token reserve'
NEW YORK: World Liberty Financial, the new crypto platform in which President Donald Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to bolster Bitcoin, Ethereum and other cryptocurrencies "that are at the forefront of reshaping global finance." WLF said in a statement posted on X on Tuesday that its new token reserve would enable it to mitigate market volatility, empower the company to invest in innovative projects in decentralized finance, and develop a well-capitalized reserve. It also said it would seek strategic partnerships with financial institutions to contribute tokenized assets to the WLF reserve. WLF did not respond to a request for comment. The White House and the Trump Organization also did not respond to requests for comment. The announcement comes at a time when Trump and his family businesses are increasingly turning to making money from the world of crypto. In addition to WLF, the Trump family's holdings include a majority stake in Trump Media & Technology Group, a social-media-and-streaming company that on January 29 announced it was pivoting into financial services tied to crypto. Three days before his inauguration, the president also launched his $Trump meme coin. Millions of dollars, including $100 million in fees alone off of the meme coin, have poured into entities connected to the president's new suite of crypto companies. WLF has already seen token sales of $500 million, by Reuters calculations. In January, Trump said his assets, which are in a revokable trust, would be managed by his children while he is in office. World Liberty Financial launched two months ahead of the U.S. presidential election. Trump and his affiliates own a 60% stake in its holding company and are entitled to 75% of revenues and 22.5 billion tokens, according to the company's website. The news comes just three days after Donald Trump Jr., the president's eldest son, made a surprise appearance at the Ondo Summit in New York City, billed as Wall Street 2.0. There, Trump and company founders told attendees, most of whom were from traditional finance, that WLF's aim was to bridge the gap between the world of crypto and mainstream retail investors such as teachers, firemen and dentists. Donald Trump Jr. emphasized the need for a regulatory framework that would allow 'crypto to flourish.' Crypto, he said, is the 'future of finance' and the 'future of American hegemony.' (Reporting By Michelle Conlin and Lawrence Delevingne; Editing by Leslie Adler)
Reuters
12-02-2025
- Business
- Reuters
Trump's crypto company launches strategic 'token reserve'
NEW YORK, Feb 11 (Reuters) - World Liberty Financial, the new crypto platform in which President Donald Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to bolster Bitcoin, Ethereum and other cryptocurrencies "that are at the forefront of reshaping global finance." WLF said in a statement posted on X on Tuesday that its new token reserve would enable it to mitigate market volatility, empower the company to invest in innovative projects in decentralized finance, and develop a well-capitalized reserve. It also said it would seek strategic partnerships with financial institutions to contribute tokenized assets to the WLF reserve. WLF did not respond to a request for comment. The White House and the Trump Organization also did not respond to requests for comment. The announcement comes at a time when Trump and his family businesses are increasingly turning to making money from the world of crypto. In addition to WLF, the Trump family's holdings include a majority stake in Trump Media & Technology Group (DJT.O), opens new tab, a social-media-and-streaming company that on January 29 announced it was pivoting into financial services tied to crypto. Three days before his inauguration, the president also launched his $Trump meme coin. Millions of dollars, including $100 million in fees alone off of the meme coin, have poured into entities connected to the president's new suite of crypto companies. WLF has already seen token sales of $500 million, by Reuters calculations. In January, Trump said his assets, which are in a revokable trust, would be managed by his children while he is in office. World Liberty Financial launched two months ahead of the U.S. presidential election. Trump and his affiliates own a 60% stake in its holding company and are entitled to 75% of revenues and 22.5 billion tokens, according to the company's website. The news comes just three days after Donald Trump Jr., the president's eldest son, made a surprise appearance at the Ondo Summit in New York City, billed as Wall Street 2.0. There, Trump and company founders told attendees, most of whom were from traditional finance, that WLF's aim was to bridge the gap between the world of crypto and mainstream retail investors such as teachers, firemen and dentists. Donald Trump Jr. emphasized the need for a regulatory framework that would allow 'crypto to flourish.' Crypto, he said, is the 'future of finance' and the 'future of American hegemony.'
Yahoo
07-02-2025
- Business
- Yahoo
Donald Trump Jr Says Crypto Is the 'Future of American Hegemony'
Donald Trump Jr. believes crypto to be the future of American dominance, he said in a conversation at the Ondo Summit in New York City on Thursday. "I think it's perhaps the future of American hegemony, in terms of our economic status, our economic might," Trump Jr. said. The son of the U.S. president made a surprise appearance at the event after World Liberty Financial (WLF), the crypto project backed by the Trump family, bought Ondo's native cryptocurrency (ONDO) earlier today. "We do have to create that framework in which [crypto], which I believe to be the future of finance, where we can play, where there is an understanding of what that 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 that it stands for," Trump Jr. said. Chase Herro, co-founder of World Liberty Financial, also said that the protocol will soon launch a "strategic reserve" of crypto assets. "We are big builder fans." WLF made headlines over the past months investing in multiple tokens including ETH, wrapped BTC, Tron's TRX, AAVE, Chainlink's LINK among other. World Liberty Financial acquired about $470,000 worth of ONDO tokens today soon after Ondo Finance announced plans to launch Ondo Chain, a layer-1 blockchain designed for tokenized assets. During U.S. morning hours, Trump's social media company revealed that it was looking to launch a series of exchange-traded funds (ETFs), one of them which would track the price of bitcoin (BTC) called the Bitcoin Plus ETF.
Yahoo
06-02-2025
- Business
- Yahoo
Ondo Finance Unveils Layer-1 Network for Tokenized Assets
New York, NY — Ondo Finance, the second-largest tokenized Treasuries issuer, said it plans to start its own layer-1 blockchain designed for tokenized real-world assets in a bid to connect traditional capital markets with decentralized finance, the company announced on Thursday at its inaugural Ondo Summit. Ondo Chain was crafted to meet institutional compliance standards while maintaining the transparency and accessibility of public blockchains like Ethereum, the company said. The network will rely on permissioned validators to verify transactions and ensure accurate financial data, such as asset prices and token backing. It will also support staking of tokenized real-world assets and native bridging between blockchains for interoperability. "Financial markets are overdue for an upgrade," CEO Nathan Allman said in a statement. "We're creating an ecosystem that bridges the best of traditional finance with blockchain technology.' ONDO, the native token of the ecosystem, saw volatile swings following the announcement, dipping 1.5% before rallying 3.5% higher. "We really set out to build something that could combine the best of both traditional finance with its incredible deep liquidity and investor protections with all the benefits of DeFi with its open access and innovation and new primitives," Ian De Bode, chief strategy officer at Ondo, said during a presentation at the Ondo Summit in New York City on Thursday. "However, as we set out on this mission, we realized that the necessary conditions to really bring together really did not exist. The infrastructure to bring these two together really was not present" The announcement comes the day after Ondo unveiled a tokenization platform that helps place stocks, bonds and funds on blockchain rails. Allman said that he believes that with a new administration in place, it could take two to three years to achieve meaningful adoption for tokenized real-world assets. Tokenization, or the creation of digital tokens that represent ownership of traditional assets on a blockchain, is gaining traction globally. Institutions and even governments are increasingly exploring the process in pursuit of operational efficiency gains like speedier settlements and broader investor accessibility. The tokenized RWA market could grow to trillions of dollars through this decade, reports from McKinsey, BCG, 21Shares and Bernstein have projected. Recently, several influential leaders in the financial world touted tokenized RWAs as the next frontier of financial innovation. Larry Fink, CEO of asset management behemoth BlackRock, said bonds and stocks will be traded on blockchain rails in the future and urged U.S. regulators and policymakers to create rules for security tokens. Vlad Tenev, co-founder and CEO of digital brokerage Robinhood, said tokenization could democratize access to private equity investment, which is currently limited to accredited investors and wealthy individuals, and proposed rule changes to unlock tokenized asset investments for retail investors. Ondo Finance is the second largest issuer of tokenized U.S. Treasuries offerings, according to data. The protocol's U.S. Dollar Yield (USDY) and Short-Term US Government Bond (OUSG) tokens stand at $385 million and $268 million market capitalization, respectively. UPDATE (Feb. 6, 2025, 15:36 UTC): Adds quotes and ONDO price move. Sign in to access your portfolio
