Crypto firms spend record $640 million on token buybacks amid digital asset slump
Source Summary
Cryptocurrency firms have spent a record $640 million buying back their own tokens, mirroring a strategy commonly used in equity markets. The buybacks come as the digital assets sector continues to experience a prolonged downturn.
Why it matters
Token buybacks signal how crypto firms are responding to market weakness by deploying capital to support token valuations, similar to corporate share repurchase programs.
