Trump-backed World Liberty Financial launches WLFI token buyback program

On Thursday, World Liberty Financial, a cryptocurrency venture backed by Donald Trump, announced the launch of a buyback program for its WLFI governance token. The initiative is backed by an initial pool of funds that could include revenue from the company's USD1 stablecoin reserves and other sources.

The announcement follows a period of pressure on the WLFI token, which has seen a decline of around 10 percent since the recent US midterm elections. According to CoinMarketCap.com, the token has also lost more than 60 percent of its value this year.

The company stated that the buyback program aims to boost engagement in WLFI governance and enhance voting power for long-term token holders. Furthermore, the company indicated that token buybacks are set to become a regular aspect of their strategy moving forward. World Liberty was co-founded in 2024 by President Trump, his three sons, and a group of partners.

The Trump family holds a 38 percent stake in the company and earns income through the sale or utilization of its crypto tokens, including the WLFI governance token and USD1 stablecoin.