Trump’s crypto firm launches strategic ‘token reserve’
NEW YORK — World Liberty Financial, the new crypto platform in which President Donald Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to bolster Bitcoin, Ethereum and other cryptocurrencies “that are at the forefront of reshaping global finance.”
WLF said in a statement posted on X on Tuesday that its new token reserve would enable it to mitigate market volatility, empower the company to invest in innovative projects in decentralized finance, and develop a well-capitalized reserve. It also said it would seek strategic partnerships with financial institutions to contribute tokenized assets to the WLF reserve.
WLF did not respond to a request for comment. The White House and the Trump Organization also did not respond to requests for comment.
The announcement comes at a time when Trump and his family businesses are increasingly turning to making money from the world of crypto.
In addition to WLF, the Trump family’s holdings include a majority stake in Trump Media & Technology Group, a social-media-and-streaming company that on Jan. 29 announced it was pivoting into financial services tied to crypto.
Three days before his inauguration, the president also launched his $Trump meme coin.
Millions of dollars, including $100 million in fees alone off of the meme coin, have poured into entities connected to the president’s new suite of crypto companies. WLF has already seen token sales of $500 million, by Reuters calculations.
In January, Trump said his assets, which are in a revocable trust, would be managed by his children while he is in office.
World Liberty Financial launched two months ahead of the US presidential election. Trump and his affiliates own a 60 percent stake in its holding company and are entitled to 75% of revenues and 22.5 billion tokens, according to the company’s website.
The news comes just three days after Donald Trump Jr., the president’s eldest son, made a surprise appearance at the Ondo Summit in New York City, billed as Wall Street 2.0.
