World Liberty Financial, the Trump family’s outrageously corrupt cryptocurrency venture, has scrambled to launch a WLFI governance token buyback program after the Republican defeat in the 2026 midterm elections this week sent its value spiraling by about 10%… so far.

Reuters reported the buyback is “funded by an initial allocation that could include revenue generated from reserves backing ​its USD1 stablecoin and other sources,” and the company has portrayed it as a way to both encourage participation in governance and increase the voting power that long-term token holders have. World Liberty didn’t say how much it plans to spend. There’s also another way of looking at it: Reuters noted the token is down more than 60% this year, a trend that started long before a Democratic victory in the midterms was considered inevitable.

The crypto industry has largely thrown in its lot with Republicans and the White House, and spent heavily this cycle in failed attempts to defeat Democratic candidates like prominent crypto critic Sherrod Brown (now senator-elect from Ohio). So it can likely expect both a much tougher legislative climate and more scrutiny of the friendly relationships it has with Trump-appointed regulators. The inbound Democratic House is reportedly already planning a market structure bill that would give the Securities and Exchange Commission (SEC) more power, while the long-stalled Clarity Act, which Democrats have portrayed as weak, is unlikely to attract much support without significantly stricter rules.

“I wouldn’t say it’s game over for Clarity, but passing it has become tougher.

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