Trump-backed cryptocurrency startup World Free Finance said on Thursday that it will launch its WLFI governance token buyback program, which will be funded by an initial grant in the future, which may include revenue from its $1 stablecoin reserve and other sources. Earlier, WLFI tokens were under pressure to sell off due to the Republican Party's performance in the US midterm elections this week falling short of expectations, and the company later issued this announcement. According to CoinMarketCap.com data, the coin has declined by about 10% since the voting ended, and has fallen by more than 60% so far this year. The company said the plan is aimed at encouraging participation in WLFI governance and increasing voting rights for long-term token holders. The company added that token buybacks will be an ongoing part of its strategy.

Trump-backed cryptocurrency startup World Free Finance said on Thursday that it will launch its WLFI governance token buyback program, which will be funded by an initial grant in the future, which may include revenue from its $1 stablecoin reserve and other sources. Earlier, WLFI tokens were under pressure to sell off due to the Republican Party's performance in the US midterm elections this week falling short of expectations, and the company later issued this announcement. According to CoinMarketCap.com data, the coin has declined by about 10% since the voting ended, and has fallen by more than 60% so far this year. The company said the plan is aimed at encouraging participation in WLFI governance and increasing voting rights for long-term token holders. The company added that token buybacks will be an ongoing part of its strategy.