The buybacks aim to reduce circulating supply and increase demand through token removal mechanisms.
WLFI Token News
World Liberty Financial purchased $7.7 million worth of tokens Wednesday at an average price of $0.16 per token, according to blockchain data platform Lookonchain. The Trump family-backed crypto project has acquired nearly $8 million in WLFI as part of its ongoing buyback strategy.
The purchase significantly exceeds the platform's $1.06 million token buyback on Sept. 27, which saw $1.43 million worth of tokens burned. World Liberty Financial passed a governance vote earlier in September to use 100% of treasury liquidity fees for token buybacks and burns, permanently removing them from circulation.
The buybacks aim to reduce circulating supply and increase demand through token removal mechanisms. WLFI has gained 13% over the past week but remains down over 48% since its January launch, according to CoinMarketCap data. The token traded at nearly $1,150 last month before recent declines.
President Donald Trump's family stake reportedly reached around $5 billion following a scheduled unlock of 24.6 billion tokens at the beginning of September. However, Trump family crypto ventures took significant hits after the $19 billion crypto market crash on Oct. 10. Their fortune fell by over $1 billion from approximately $7.7 billion in early September to $6.7 billion by late November, Bloomberg reported.
Cryptocurrency ventures generated about $802 million in income for the Trump family during the first half of the year, according to Reuters estimates. The majority stemmed from WLFI tokens, the Official Trump meme coin, and passive yield from the World Liberty Financial USD1 stablecoin.
The WLFI-tagged wallet address held $7.5 billion worth of tokens as its largest holding at the time of the recent purchase, according to blockchain data platform Arkham. The platform continues to execute its treasury management approach focused on creating demand through supply reduction.
World Liberty Financial operates with governance mechanisms allowing token holders to vote on treasury usage and project direction. The buyback strategy represents the implementation of community-approved measures to address the token’s price performance since launch.
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