Trump Jr. Backs Crypto as Firm Builds Reserve

A decentralized finance (DeFi) project, with ties to the Trump family, has announced the creation of a strategic cryptocurrency reserve. This news follows Donald Trump Jr.'s vocal support for the digital asset industry at the recent Ondo Summit in New York.

Trump Jr. on Crypto's Future

Speaking at the Ondo Summit, Donald Trump Jr. stated that he believes cryptocurrency is "perhaps the future of American hegemony" in terms of economic power. His comments highlighted the potential of digital assets to reshape the U.S. economy and global finance. The remarks were part of a wider discussion about the role of digital assets within financial markets and regulatory frameworks.

The firm, which has been actively acquiring digital tokens, recently purchased $470,000 worth of ONDO, the native token of Ondo Finance. Other investments include Ethereum (ETH), wrapped Bitcoin (wBTC), Tron's TRX, AAVE, and Chainlink's LINK.

Strategic Reserve Unveiled

The co-founder of the firm, Chase Herro, revealed the creation of a strategic crypto reserve, though the exact purpose remains undisclosed. Herro stated that the firm is "big builder fans," emphasizing their continued investment in the digital asset space.

The concept of a national cryptocurrency reserve has been discussed since last year's presidential campaign, with an executive action issued in January to explore the feasibility of such a stockpile. This has led to much speculation about the firm's potential role in shaping national DeFi policy.

Note: This is a developing story. Check back for updates.

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