Crypto News Today: Trump Jr. Declares Crypto the New Weapon for U.S. Economic Hegemony

The post Crypto News Today: Trump Jr. Declares Crypto the New Weapon for U.S. Economic Hegemony appeared first on Coinpedia Fintech News

During a surprise appearance at the Ondo Summit in New York City on Thursday, Donald Trump Jr. shared his strong belief in the future of cryptocurrency, stating that it could play a pivotal role in securing America’s economic dominance. “I think it’s perhaps the future of American hegemony, in terms of our economic status, our economic might,” he said as reported by CoinDesk.

“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. added.

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

Additionally, WLF has recently made investments in various cryptocurrencies, including Ethereum, Bitcoin, and others, and has purchased approximately $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 exciting developments, including plans for the launch of a “strategic reserve” of crypto assets. The reserve will provide further liquidity and support for the crypto ecosystem, offering investors more diverse opportunities in a growing market.

This focus on cryptocurrency aligns with TMTG’s plans to launch a Bitcoin-backed ETF, named the Truth.Fi Bitcoin Plus ETF, showcasing their interest in traditional and digital asset investments.