Trump’s DeFi Firm Promises Crypto Reserve

Herro revealed plans for the company's “strategic reserve” during the Ondo main net launch event in New York. Attended by Donald Trump Jr

Trump's DeFi venture, World Liberty Financial (WLFI), has revealed plans to create a "strategic reserve" of cryptocurrencies, amassing hundreds of millions in altcoins.

The move comes amid growing discussions about a U.S. Bitcoin reserve, with WLFI's plans potentially positioning the company to create a crypto reserve before the government.

Co-founder Chase Herro announced the reserve plans at the Ondo main net launch event in New York, which was also attended by Donald Trump Jr.

Herro hinted at the creation of a "strategic reserve" during the event, although he refrained from disclosing specific details about the reserve, such as the tokens that will be included.

However, given WLFI's crypto lending and staking services, it's likely that the reserve will complement these offerings.

According to CoinGecko data, WLFI's current crypto portfolio is valued at $348 million, with a heavy allocation in Ethereum (ETH), constituting 61% of its holdings.

This translates to approximately $214 million in ETH holdings.

Wrapped Bitcoin (WBTC) ranks second in the portfolio with a $62.76 million stake, followed by USDC ($37.6 million), USDT ($10.84 million), and Tron's TRX ($9.34 million).

Additionally, the portfolio includes a collection of smaller tokens valued at $14.6 million.

Recently, rumors emerged that WLFI had moved 90% of its assets to Coinbase amid market turbulence, potentially indicating the sale of its crypto holdings.

However, the company has refuted these claims, stating that it continues to hold its crypto positions.