- Chase Herro didn’t specify what the aim of holding a reserve for the platform can be
- On Thursday, World Liberty Monetary purchased $470,000 value of ONDO, the token linked to Ondo Finance
The co-founder of World Liberty Monetary has mentioned that the DeFi challenge plans to create a “strategic reserve” with the tokens it buys.
Chase Herro made his feedback at startup Ondo Finance’s inaugural summit in New York; nevertheless, he didn’t specify what function holding a reserve can be for the platform.
In keeping with Bloomberg, Herro appeared on stage alongside Donald Trump Jr. and fellow World Liberty Monetary (WFL) co-founders Zak Folkman and Zach Witkoff. The platform is backed by US President Donald Trump who’s listed as Chief Crypto Advocate on the challenge’s web site.
Herro’s remarks comply with because the WFL purchased 342,000 ONDO tokens on Thursday, for a price of $470,000, in accordance with Arkham Intelligence knowledge. The ONDO token is linked to ONDO Finance and is WFL’s governance token.
So far, WLF crypto holdings quantity to $35.5 million with a majority held in USDC and Tron.
The thought of a Bitcoin strategic reserve has gained enthusiasm, because of Trump who has floated the thought of such a transfer since his presidential win. Final month, the US president signed an government order to determine a crypto working group designed to spice up the development of crypto in America.
It is going to additionally look into the potential for making a nationwide crypto stockpile.