Donald Trump Jr Says Crypto Is the 'Future of American Hegemony'

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Donald Trump Jr. Calls Crypto the "Future of American Hegemony" in Surprise Appearance at Ondo Summit

The president’s son unexpectedly joins New York City event as Trump-backed financial venture expands investments in digital assets.

By Krisztian Sandor, Helene Braun | Edited by Stephen Alpher

Updated Feb. 6, 2025, 10:03 p.m. UTC | Published Feb. 6, 2025, 10:01 p.m. UTC

Donald Trump Jr., the son of U.S. President Donald Trump, made an unannounced appearance at the Ondo Summit in New York City on Thursday, taking the stage to voice his strong support for cryptocurrency as a pillar of American economic power.

During his remarks, Trump Jr. described digital assets as a key driver of the United States’ financial future, emphasizing their role in maintaining global economic dominance.

"I think it's perhaps the future of American hegemony, in terms of our economic status, our economic might," he said.

Trump-Backed Financial Venture Expands Crypto Holdings

His appearance came just hours after World Liberty Financial (WLF)—a cryptocurrency investment firm backed by the Trump family—purchased a significant amount of Ondo’s native cryptocurrency (ONDO). The investment follows a broader trend of WLF accumulating a diverse portfolio of digital assets, including Ethereum (ETH), wrapped Bitcoin (WBTC), Tron (TRX), AAVE, and Chainlink (LINK) over recent months.

Chase Herro, co-founder of World Liberty Financial, also spoke at the event, announcing that the firm plans to launch a "strategic reserve" of crypto assets in the near future.

"We are big builder fans," Herro said, hinting at further investments and expansion within the blockchain space.

Push for a Balanced Regulatory Framework

Trump Jr. took the opportunity to comment on crypto regulation, advocating for a legal framework that fosters innovation while protecting investors.

"We do have to create that framework in which [crypto], which I believe to be the future of finance, where we can play, where there is an understanding of what that is but also where it's not so over-regulated by people who don't know what they're talking about that you lose everything that it stands for," he said.

The remarks come amid ongoing debates in Washington over how to regulate digital assets, with some lawmakers pushing for stricter oversight while others call for a more innovation-friendly approach.

Trump Social Media Firm Eyes Bitcoin ETF

Trump Jr.'s comments also coincided with another major development in the family’s business ventures. Earlier in the day, Trump Media & Technology Group, the company behind the social media platform Truth Social, announced its plans to launch a series of exchange-traded funds (ETFs), including one designed to track the price of Bitcoin (BTC). The proposed fund, known as Truth.Fi Bitcoin Plus ETF, aims to capitalize on the growing demand for regulated crypto investment products.

The move highlights the Trump family’s increasing involvement in the digital asset sector, positioning their ventures at the intersection of crypto, finance, and politics.

With WLF’s latest ONDO acquisition and plans for an ETF, the Trump-backed financial ecosystem is deepening its footprint in the crypto world—a move that could have significant implications for both the industry and the broader U.S. economy.