Read this article on bsc.news World Liberty Financial's $WLFI token is among the top performers on crypto's top 100 list, rising more than 6% over 24 hours at the time of writing, according t
World Liberty Financial's $WLFI token is among the top performers on crypto's top 100 list, rising more than 6% over 24 hours at the time of writing, according to CoinGecko. The move follows the project's announcement of a new token buyback program.
Other top gainers include @BitwayOfficial's $BTW, @Arbitrum's $ARB and $PEPE.
In a post on X, @worldlibertyfi said the success of USD1 and the growing WLFI ecosystem is helping it launch a new WLFI token buyback program to strengthen the ecosystem and governance.
According to Reuters, the program will be funded by an initial allocation that could include revenue generated from reserves backing its USD1 stablecoin and other sources. The company said the program is intended to encourage participation in WLFI governance and increase voting power among long-term token holders. It also said token buybacks are intended to become an ongoing part of its strategy.
Details remain limited. Investing.com reported that the company did not specify the amount of tokens it would buy back. Bloomberg-sourced reporting also noted that the company did not disclose the initial allocation or the purchase schedule, and that the pace and size of the buyback will depend on ecosystem growth and participation, according to Bloomingbit.
The rebound comes after a weak stretch for the token. Reuters reported that WLFI came under pressure after the Republican Party's weaker-than-expected showing in this week's US midterm elections, and that the token has fallen about 10% since the vote and is down more than 60% so far this year, according to CoinMarketCap.
This is not the project's first repurchase effort. Bloomingbit reported that World Liberty Financial has already repurchased some tokens through a buyback-and-burn program since WLFI began public trading in September last year. Crypto Economy cautioned that the announcement alone does not establish that it will reverse the token's decline.
World Liberty was co-founded in 2024 by President Donald Trump, his three sons and a group of partners. The Trump family owns 38% of World Liberty and makes money through the sale or use of its crypto tokens, the WLFI governance token and USD1 stablecoin.
Short-term price moves for WLFI have varied across data providers and timeframes, and crypto prices can change quickly.
Reuters via Yahoo Finance: Trump-backed World Liberty Financial launches WLFI token buyback program
Investing.com: Trump's World Liberty Financial launches token buyback program
Bloomingbit: World Liberty Financial Announces WLFI Buyback Plan After Token Slump
