Web3 Promises Are Being Delivered On, ‘Crypto Dad’ Giancarlo Says at Ondo Finance Chain Launch Event

Chair of the House Financial Services Committee Patrick McHenry, acting Commodity Futures Trading Commission Chair Caroline Pham, and “crypto dad” J. Christopher Giancarlo were among some of the speakers at the conference.

The Trump administration's plans for the crypto industry are finally being realized, according to some attendees at the recent Converge22 conference in San Francisco.

But others warned that changes in the crypto industry in Washington won't happen overnight.

Here's what some of the key figures had to say at the conference.

World Liberty Financial, a new Web3 platform, launched its native token, WLF, on the BNB Chain. The platform aims to connect traditional finance with Web3 and metaverse experiences.

Since the platform’s launch in October, observers have raised questions about World Liberty’s potential conflicts of interest for the Trump family, given the administration’s sway over regulations. Trump’s sons, Donald Jr., Eric, and Barron, are all listed as Web3 Advisors to World Liberty Financial. The family has been actively promoting the project through social media and public appearances.

Ondo Finance, a decentralized finance (DeFi) protocol, announced plans to launch Ondo Chain, its own layer-1 blockchain, at the Converge22 conference.

The protocol, which aims to make DeFi more accessible and efficient, also unveiled a lineup of speakers for its upcoming DeFi conference, set to take place in Miami on March 29.

Chair of the House Financial Services Committee Patrick McHenry, acting Commodity Futures Trading Commission Chair Caroline Pham, and “crypto dad” J. Christopher Giancarlo were among some of the speakers at the conference, which discussed the future of tokenization, as well as regulation.

“The promises are being delivered on,” Giancarlo said of the Trump administration’s plans for the crypto industry. “It’s one thing to get rid of bad policy of the last four years. It’s getting to good policy that is challenging.”

Meanwhile William Hinman, a senior advisor to venture capital firm Andreesen Horowitz, stressed that changes in the crypto industry in Washington won't happen overnight.

“There’ll be some improvements, but I think that’s gonna take time,” Hinman said of the Financial Innovation and Technology for the 21st Century Act. “It’s in the same way that it’s gonna take time for the SEC to turn over a new leaf to really come through with some concrete evidence that now this is a more hospitable regulatory approach.”