- Chase Herro didn’t specify what the purpose of holding a reserve for the platform would be
- On Thursday, World Liberty Financial bought $470,000 worth of ONDO, the token linked to Ondo Finance
The co-founder of World Liberty Financial has said that the DeFi project plans to create a “strategic reserve” with the tokens it buys.
Chase Herro made his comments at startup Ondo Finance’s inaugural summit in New York; however, he didn’t specify what purpose holding a reserve would be for the platform.
According to Bloomberg, Herro appeared on stage alongside Donald Trump Jr. and fellow World Liberty Financial (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 project’s website.
Herro’s remarks follow as the WFL bought 342,000 ONDO tokens on Thursday, for a value of $470,000, according to Arkham Intelligence data. The ONDO token is linked to ONDO Finance and is WFL’s governance token.
To date, WLF crypto holdings amount to $35.5 million with a majority held in USDC and Tron.
The idea of a Bitcoin strategic reserve has gained enthusiasm, thanks to Trump who has floated the idea of such a move since his presidential win. Last month, the US president signed an executive order to establish a crypto working group designed to boost the advancement of crypto in America.
It will also look into the possibility of creating a national crypto stockpile.
