The Trump family firm will finance a new buyback of $WLFI in part with a $1 reserve fee, days after Democrats named it as a likely oversight target.
Liberty Global Financial said it is launching a new buyback program for its WLFI governance token, funded by an initial allocation that may include fees from the reserves backing its $1 stablecoin and other sources.
What’s the scoop?
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The redemption: In an article It did not disclose a dollar amount, timeline or burn commitment. CoinDesk note World Liberty previously disclosed $65.6 million in open market buybacks in April.
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The slide: The WLFI has fallen about 10% since Tuesday’s midterm elections and more than 60% this year, as Trump-linked tokens sold off with the Democratic sweep.
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The policy: World Liberty presents the program as ecosystem and governance work. CEO Zach Witkoff argued separately the company operates independently of Trump and that the demand for $1 is organic and not cronyism. Democrats aren’t buying distance and we can expect World Liberty to be among the Trump family’s first crypto targets.
David Christophe
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David is a writer/analyst at Bankless. Before joining Bankless, he worked for a series of early-stage crypto startups and with grants from the Ethereum, Solana and Urbit foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
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