Trump-backed World Liberty Financial introduces WLFI token buyback programme

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World Liberty Financial, the cryptocurrency venture backed by the Trump family, has announced a buyback programme for its WLFI governance token, using an initial allocation that may include revenue from reserves backing its USD1 stablecoin.

The company announced the initiative on Thursday, saying it aims to encourage participation in governance and increase voting power among long-term token holders. It added that repurchases would become a recurring part of its strategy.

The announcement follows a decline in WLFI after the Republican Party’s weaker-than-expected performance in the US midterm elections. The token has lost around 10% since the vote and more than 60% since the beginning of the year, according to CoinMarketCap.