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    WLFI Tied to Trump Destroys $1.43M in Tokens Following Recent Buyback

    Ethan CarterBy No Comments2 Mins Read
    1758973799

    World Liberty Financial (WLFI), a decentralized finance project associated with President Donald Trump, has incinerated 7.89 million WLFI tokens, valued at approximately $1.43 million, after executing a $1.06 million buyback across various chains.

    Onchain data collected by Lookonchain indicates that the project generated 4.91 million WLFI ($1.01 million) alongside $1.06 million from fees and liquidity earnings from its DeFi operations, using $1.06 million to repurchase 6.04 million WLFI on the open market.

    The team subsequently burned 7.89 million WLFI on BNB Smart Chain (BNB) and Ethereum (ETH), while 3.06 million WLFI ($638,000) remains unburned on Solana (SOL) awaiting further actions.

    This decision follows a 33% decline in WLFI’s price over the last month. As of Saturday, WLFI is trading at $0.2049, up over 6% in the past day, according to CoinGecko. The token is still down more than 38% from its peak price.

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    WLFI buyback and burn. Source: Lookonchain

    Related: Crypto.com’s Cronos erases Trump pump gains, community questions demand

    WLFI’s burn plan gains approval

    The token-burning strategy was approved through a governance vote earlier this month, with 99% of WLFI holders supporting the proposal. The strategy dictates that fees from WLFI-managed liquidity pools will be allocated for token buybacks, which will then be permanently removed from circulation via burns.

    According to the WLFI team, this approach is intended to decrease total supply and reduce selling pressure. They clarified that only fees derived from WLFI-controlled liquidity sources are considered; community and third-party liquidity pools are not included.

    Some onchain analysts have suggested the program could lead to the burning of 4 million WLFI daily, equating to nearly 2% of the supply annually. However, the specific burn figures are yet to be determined.

    Related: California vs. MAGA memecoins: Why Gavin Newsom is fighting Trump

    Trump Family’s WLFI holdings worth $5 billion

    As stated by Cointelegraph, an organization linked to former US President Donald Trump and his family possesses around $5 billion worth of WLFI following a scheduled unlocking of 24.6 billion tokens earlier this month.