The Trump family’s crypto venture, World Liberty Financial (WLFI), has initiated a token burn, destroying 47 million tokens in an effort to stabilize prices.
According to blockchain data from Etherscan, the burn occurred Sept. 2 and reduced WLFI’s total supply to just over 99.95 billion. The tokens burned represent roughly 0.19% of circulating supply.
WLFI began trading earlier this week, opening to public investors after early backers were allowed to sell. The token briefly hit a high of $0.331 before sliding to $0.23, reflecting a 3.8% drop in the last 24 hours.
Token burns are often used to create scarcity and theoretically boost value. CoinMarketCap data shows around 24.66 billion tokens, or roughly a quarter of the original supply, are already unlocked.
World Liberty also proposed a token buyback-and-burn program funded by protocol-owned liquidity fees, as it attempts to regain investor confidence amid the early price decline.
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