Trump-backed WLFI token drops 12% to record lows after team defends multi-million lending position
CoinDesk·3h ago·Fear
What Happened
World Liberty Financial's WLFI token dropped 12% in 24 hours after defending its lending position on Dolomite protocol. The Trump-linked venture deposited its own governance token as collateral, borrowed stablecoins, and drained the USD1 pool. WLFI disclosed $65.58 million in token buybacks over six months at $0.1507 average price. Token now trades 48% below that average. Three billion additional WLFI tokens worth $234 million sit in an intermediary wallet.
Key Entities
World Liberty FinancialWLFI tokenDolomite protocolTrump-backed cryptoCoinDesk$65.58 million buybacks435.3 million tokens