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    Trump-Associated WLFI Incinerates $1.43M in Tokens Following Recent Repurchase

    Ethan CarterBy No Comments2 Mins Read
    1758974312

    World Liberty Financial (WLFI), associated with President Donald Trump, has burned 7.89 million WLFI tokens, valued at around $1.43 million, after a $1.06 million buyback across various chains.

    Onchain data gathered by Lookonchain reveals that the project collected 4.91 million WLFI ($1.01 million) and $1.06 million in fees and liquidity earnings from its DeFi activities, subsequently spending $1.06 million to repurchase 6.04 million WLFI on the open market.

    The team later 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 action follows a 33% decline in WLFI’s price over the past month. As of Saturday, WLFI is trading at $0.2049, reflecting an increase of over 6% in the past day, according to CoinGecko. The token remains down more than 38% from its all-time high.

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    WLFI buyback and burn. Source: Lookonchain

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    WLFI’s burn plan gains approval

    The token-burning strategy originates from a governance vote held earlier this month, where 99% of WLFI holders supported the proposal. The plan entails using fees generated from WLFI-managed liquidity pools for token repurchases, which are then permanently removed from circulation through burns.

    According to the WLFI team, this mechanism aims to lower total supply and ease selling pressure. The project specified that only fees from WLFI-controlled liquidity are part of this process, excluding community and third-party liquidity pools.

    Some onchain analysts have speculated that the program could burn 4 million WLFI daily, equating to nearly 2% of supply annually. However, precise burn figures remain unclear.

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

    Trump Family’s WLFI holdings worth $5 billion

    As reported by Cointelegraph, an entity linked to former US President Donald Trump and his family holds about $5 billion worth of WLFI following a scheduled unlock of 24.6 billion tokens earlier this month.