Chase Herro, co-founder of President Donald Trump’s DeFi project, World Liberty Financial, said the platform plans on creating a “strategic reserve” with tokens bought.

The address scooped up about 342,000 ONDO, the platform's governance token, for $470,000 USDC on the CoW Protocol, according to data from Arkham Intelligence. It first bought ONDO two months ago, worth $245,000 at the time, before sending the tokens to Coinbase Prime earlier this week.

World Liberty Financial rebuilt its position of Ondo (ONDO) just as the project announced its new L1 chain for institutional-grade DeFi.

Ondo Finance revealed plans to launch a chain for tokenizing real-world assets, with Donald Trump Jr. appearing at its Thursday event.

In an X post, World Liberty Financial denied rumors that it was pursuing “token swaps” with various cryptocurrency projects.