Donald Trump’s Cryptocurrency Project Is Reportedly Expanding Its Investment in This Altcoin

World Liberty Financial, a decentralized finance (DeFi) platform backed by Donald Trump and his family, has expanded its investment in Ondo Finance (ONDO), the second-largest issuer of tokenized Treasury bonds.

According to Arkham Intelligence, a wallet affiliated with World Liberty Financial purchased 342,000 ONDO tokens for $470,000 USDC via CoW Protocol. This was the platform’s second purchase of ONDO, following a $245,000 purchase two months ago. The tokens were then transferred to Coinbase Prime earlier this week.

The transaction coincides with Ondo Finance’s announcement that it will be launching its own layer-1 blockchain focused on tokenized assets.

Ondo’s chief strategy officer Ian De Bode said at the Ondo Summit that the blockchain, called Ondo Chain, was developed with contributions from some of the world’s largest financial institutions.

De Bode told the conference that Ondo Chain and Ondo Finance are working to create a “hybrid” platform that “combines the openness of public blockchains with the compliance and security features of permissioned chains.” Validators on Ondo Chain will be invitation-only, in an effort to allay Wall Street’s fears of running afoul of regulators.

“This means that only known and reputable, and generally regulated, institutions will be allowed to run a validator,” De Bode said.

*This is not investment advice.