Crypto News: Trump-backed WLFI Completes $8 Million Token Buyback Amid Massive Market Dip

World Liberty Financial has boosted its WLFI token buybacks with nearly $8 million after months of heavy price declines.

World Liberty Financial has pushed ahead with another round of WLFI token buybacks. 

The project is still facing a steep price drop compared to its launch, yet it continues to use buybacks and burns to support demand. 

Recent blockchain data now shows that WLFI repurchased large amount of tokens, worth several million dollars. 

WLFI Buybacks Grow As Pressure On The Token Remains

The latest WLFI purchase reached about $7.7 million and the platform paid an average of $0.16 for each token. 

Lookonchain released the figures and noted that this was far larger than the earlier buyback of $1.06 million recorded on September 27. That earlier round also included the burn of $1.43 million worth of tokens.

A governance vote in early September allowed the platform to use all liquidity fees from the treasury for buybacks and burns. These actions remove tokens from circulation and give the team a direct method to support demand. 

The recent buyback falls under that new rule and gives the project more room to reduce supply during periods of heavy selling.

Trump Family Earnings Rose Earlier This Year Then Fell Sharply

Reports from Reuters earlier this year showed that the Trump family earned around $802 million from crypto during the first half of the year. 

The figure came from WLFI tokens, the TRUMP memecoin and yield from the USD1 stablecoin. WLFI held most of the attention due to its large supply and its high valuation during the early months of the project.

The family’s WLFI stake rose sharply at the start of September. This came after a scheduled unlock of about 24.6 billion tokens. Estimates placed the value of the family’s holdings near $5 billion soon after the unlock and strong activity on trading platforms supported that figure before the October crash.

The October 10 market crash wiped out a large chunk of gains across the sector. 

The event removed about $19 billion from cryptocurrency markets on that day. Bloomberg reported that the Trump family’s wealth dropped from around $7.7 billion in early September to roughly $6.7 billion by the end of November. 

WLFI took part in the downturn and stayed far below its previous levels even after the latest buybacks.

Related Reading: WLFI Freezes Affected Wallets After Pre-Launch Compromise

Governance Votes Give WLFI More Freedom To React

The early September governance vote changed the way fees can be used. Since the project can now put all liquidity fees into buybacks and burns, it has more ways to react when trading turns weaker. 

The move also matches similar steps used by other crypto projects that rely on supply management.

Some users view the change as useful during prolonged price drops. Others want the project to focus more on building services that attract users, rather than leaning on buybacks. So far, WLFI has not released many new product updates in recent weeks, even though its community channels remain active.

The WLFI address still holds more than $7 million | source- Arkham

According to data from Arkham Intelligence, the WLFI address still holds more than $7 million in WLFI tokens.

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