Trump-backed World Liberty Financial launches WLFI token buyback program

World Liberty Financial, a cryptocurrency venture backed by former President Donald Trump, has announced the launch of a buyback program for its WLFI governance token. The company said the program is aimed at encouraging participation in WLFI governance and increasing voting power among long-term token holders. This move comes after the WLFI token faced pressure following the Republican Party's weaker-than-expected performance in the recent US midterm elections.

The token's value has fallen by approximately 10% since the vote and has declined by over 60% so far this year, according to CoinMarketCap.com. The company intends to make token buybacks a regular part of its strategy. World Liberty was established in 2024 by Trump, his three sons, and a group of partners. The Trump family holds a 38% stake in World Liberty and generates income through the sale or use of its crypto tokens, including the $WLFI governance token and the USD1 stablecoin.