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Trump-Family Backed World Liberty Financial Starts Token Reserve for Crypto Investment
The protocol has already accumulated tokens of various networks.
What to know:
- The firm said it will try to bring tokenized assets from TradFi firms into its reserve.
- The reserve will try to boost ecosystems, with a focus on DeFi.
The Trump-family backed World Liberty Financial launched its token reserve to back various crypto ecosystems, the decentralized finance (DeFi) protocol said in an X post on Wednesday.
World Liberty said it will diversify its token holdings and engage with traditional finance firms to invest their tokenized assets into the reserve.
STORY CONTINUES BELOW
The protocol did not disclose any details on which tokens the reserve would invest in, but did say it will have a particular focus on DeFi.
Last week, World Liberty Financial co-founder Chase Herro said the protocol will start a "strategic reserve" of crypto assets.
It has already accumulated various tokens, including TRON's TRX, USDC, Ether (ETH) and staked ETH, as well as MOVE and ONDO tokens, according to data from Arkham Intelligence.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
