World Liberty Financial proposes buyback-and-burn program to calm sell-offs
The Trump family’s crypto project, World Liberty Financial (WLFI), has initiated a token burn to address sharp price declines since its public launch.
Onchain data from Lookonchain shows that 47 million WLFI tokens were permanently removed from circulation on Sept. 2, reducing the supply to just over 99.95 billion, reports Cointelegraph.
The burn followed heavy selling pressure as early investors offloaded holdings, sending the token down more than 31% from its $0.331 launch peak. WLFI is now trading just over $0.23, reflecting a 3.8% decline in the past 24 hours. Token burns are a common mechanism in crypto markets aimed at reducing circulating supply and boosting scarcity.
Market reaction and community response
The burn represented about 0.19% of WLFI’s circulating supply, with CoinMarketCap showing roughly 24.66 billion tokens already unlocked. World Liberty Financial also proposed a long-term buyback-and-burn program funded by protocol-owned liquidity fees, designed to reward long-term holders. In the proposal, the team argued that reducing supply would increase the relative ownership of committed investors while discouraging short-term speculation.
A majority of the 133 community respondents expressed support for the initiative, though an official vote has not yet occurred. Despite the move, short sellers remain active, keeping downward pressure on the token.
Industry criticism and broader concerns
While the burn program is intended to stabilize WLFI, some industry figures see the launch as symptomatic of deeper issues in the crypto market. Kevin Rusher, founder of RAAC, said the hype surrounding WLFI reflects how speculative trading still overshadows institutional adoption, which he views as critical for long-term growth. He warned that “celebrity tokens” could damage trust in crypto by prioritizing short-term gains over resilience.
Meanwhile, Galxe’s Mangirdas Ptašinskas highlighted that WLFI’s launch caused Ethereum gas fees to surge, with $200 transfers briefly costing $50. He argued this shows how far the ecosystem has to go before mainstream adoption becomes feasible. Together, these reactions underscore skepticism that token burns alone will restore confidence in WLFI.
Recently we wrote that Eric Trump has announced the launch of the new $WLFI token by World Liberty Finance, a move he claims will set a new standard for financial freedom.
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