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Trump-backed World Liberty Financial plans token buyback after 66% year-to-date slide

By CoinDesk

World Liberty Financial, the Trump-family backed crypto venture, plans to buy back more of its WLFI token after a steep price drop that followed the U.S. midterm elections.

WLFI has lost about 10% of its value since Tuesday and more than 66% this year. The latest decline came as Republicans performed worse than expected in the elections.

The TRUMP memecoin and Trump Media shares also hit record lows.

WLFI faces a separate headwind too. On the day of the vote, Tron founder Justin Sun said he had asked a federal court to sanction World Liberty in his lawsuit over roughly 4 billion frozen WLFI tokens.

The company said on X that it may use fees earned from reserves backing its USD1 stablecoin, along with other sources, to pay for the purchases.

The plan, WLFI said, is to encourage more active participation in the project’s governance and put more voting power in the hands of committed long-term holders.

“We intend for buybacks to be an ongoing part of our long-term strategy with the pace and scale guided by ecosystem growth and impact on governance participation,” the project said.

This is not World Liberty's first attempt to support WLFI through token purchases. In April, the company disclosed $65.6 million in open-market buybacks over the prior six months.

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