🔥 Trump-Linked Project Turns to Token Burns
The Trump family–backed crypto venture World Liberty Financial (WLFI) has launched a massive token burn in an effort to stop its steep price decline.
Onchain data from Lookonchain revealed that the platform burned 47 million WLFI tokens on Sept. 2, sending them to a burn wallet and permanently removing them from circulation.
📉 WLFI Price Continues to Slide
WLFI first hit secondary markets on Monday, briefly peaking at $0.331. Since then, its value has plunged over 31%, now trading just above $0.23.
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Burned tokens represent 0.19% of circulating supply.
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Over 24.6 billion WLFI have been unlocked out of the original 100 billion supply.
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Etherscan now shows a reduced total supply of 99.95 billion WLFI.
Despite the burn, the market remains under pressure from short sellers unloading the token.
💡 Token Burn Proposal Gains Support
World Liberty has also proposed a buyback and burn program, using protocol-owned liquidity fees to buy tokens and remove them from circulation.
The team says this strategy would:
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Boost the value of committed long-term holders.
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Remove tokens from short-term speculators.
A majority of early community respondents (133 comments) have voiced approval, though an official vote is still pending.
📊 Industry Experts Weigh In
Not everyone is convinced that celebrity-backed tokens will bring long-term stability.
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Kevin Rusher, founder of RAAC, argued that crypto needs institutional adoption instead of short-term hype from speculative tokens.
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Mangirdas Ptašinskas of Galxe noted that WLFI’s launch sent Ethereum gas fees soaring, warning that scalability challenges remain before crypto is ready for mainstream adoption.
🚀 What’s Next for WLFI?
While token burns can help tighten supply, they are not a guaranteed fix for price declines. The WLFI project still faces skepticism over sustainability, with some viewing it as hype-driven rather than built for long-term utility.
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