- World Liberty Financial Amazes the crypto for a “strategic reserve”.
- The crypto project supported by Trump is not intended for risk-taking players, said the co-founder.
World Liberty Financial made the headlines for a recent wave of cryptography spending.
In December, he bought more than 4,000 AAVE tokens. On January 20, he bought more than $ 90 million in Bitcoin and Ethereum wrapped. No more recently than Thursday, he spent more than $ 400,000 in crypto issued by Ondo, one of the largest American Treasury Treasury bond issues.
Speaking on stage at a conference hosted from Ondo to Manhattan that day, one of the co-founders of World Liberty said that madness was not only another bet on the crypto.
“One of the things we are going to launch here in the very short future is a strategic reserve,” said the co-founder of World Liberty, Chase Herro, in an atrium with an expansive view of Columbus Circle.
“We have collected a lot of money together,” continued Herro. “The idea is that we are going to leave this onchain, and we will commit to the industry that was so kind for us.”
The way this stock will benefit the industry was not clear. Friday, World Liberty had only $ 35 million crypto, having apparently sold most of its $ 400 million in hiding place a few days earlier, according to Arkham data.
But its planned launch is one of the few concrete details on World Liberty, a crypto company that launched four months ago with the support of Donald Trump, who is now president.
World Liberty “directs a financial revolution by focusing on the grip of traditional financial institutions,” said his website.
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According to reports and the company’s website, which includes the release of a stablecoin and the simplification of access to decentralized financing protocols such as Aave.
Although it was once a skeptical crypto, Trump plunged his toes into the industry in 2022 when he released non-funsable tokens representing him as a muscular superhero, a hunter wearing firearms and others Comic strip images.
He dived at the head of September when his sons, Eric Trump and Donald Jr, revealed World Liberty Financial.
Sales of his token, WLFI, have experienced a difficult start, but have since collected around $ 385 million.
Herro shared the scene Thursday with Donald Trump Jr, who said that his family kissed the crypto after being avoided by the bankers following the first presidential campaign of his father.
“We had trouble getting a loan,” he said. “Once this has died, you realize how corrupted the system is.”
The Ondo summit was presented as a conference for “the biggest names in traditional finance and blockchain”. Head speakers include leaders of Blackrock, Bank of New York Mellon and Fidelity Investments.
But Trump Jr did not hesitate to take shots at Wall Street.
“They mainly had a monopoly on all of this,” he said. “There are many intermediaries in there who probably have nothing to do. We will force efficiency even on these traditional markets. »»
However, the co-founders of World Liberty described the company as a “bridge” between traditional and decentralized finances.
“We cannot expect the everyday person who is just trying to go to work, save money, spend time with his family, sit at home and Nerd And to find seed sentences and a portfolio abstraction, “said World Liberty Co- Founder Zak Folkman.
What form that will take is not yet clear. Aside from potential integration with Aave, there have been few details on the main business of world freedom, which has not yet been launched.
But it is not built for risk research players often attracted by crypto, according to Folkman.
“You will not get this welcome from this new crypto world when you have an incredible altcoin that goes to the moon and go down and you deliver all those who are slow and lethargic, and they have a real job that they have Go go ahead, “he said.
“But if you give them the current account which earns 7, 8, 9, 10%, which is supported by an Aave, which has abstractions on a debit card … It is the same interaction, but at the end of the month , they get more. “”
Aleks Gilbert is the DL News DL News correspondent. You can contact him at Aleks@dlnews.com.
