World Liberty Financial, the crypto project tied to President Donald Trump’s family, is launching a program to repurchase its WLFI governance token, according to a post on X on Thursday evening. The purchases are meant to “consolidate voting power among our most committed long-term holders,” the project said.
The post did not put a dollar figure or a timetable on the program. World Liberty said in the post that it would begin with an initial allocation that “may include fees earned from USD1 reserves and other sources,” and would review the program as it runs.
The announcement came two days after the U.S. midterm elections. Speaking about the new Congress on Thursday, Mike Katz, a partner at Manatt, said on Unchained that “targeted oversight is going to happen” and that “in the crypto world, it’s going to be focused around the Trump family” and its crypto ventures. He named “the meme coins” and “World Liberty” as likely subjects, adding that congressional committees are “gonna be looking for self-dealing.”
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How the Buyback Works
World Liberty credited the growth of USD1, its dollar-pegged stablecoin, and of the wider WLFI ecosystem for making the program possible. It said it wants buybacks to be “an ongoing part of our long-term strategy” with how much it buys, and how quickly, set by ecosystem growth and by the effect on governance participation.
The stated aim is governance: World Liberty said it wants more WLFI holders voting, and more of the vote held by long-term holders. The post did not say whether repurchased tokens would be burned, held in the treasury or used some other way.
WLFI’s Price This Year
WLFI traded near $0.047 on Friday, according to CoinGecko data. That is down about 67% from roughly $0.1435 on Jan. 1, and about 6% below its price at midnight UTC on Nov. 3, by Unchained’s calculation from the same data. The token was up about 5% over the 24 hours to Friday morning.
World Liberty closed the post by saying it is “building for the long term, alongside the holders who share that vision.”
Related Listen: Why Programmatic Token Buybacks Are ‘Kind of a Red Flag’
