The Duality of Founder-Led Buybacks in Crypto
Founder-led buybacks in the crypto world are stirring the pot as usual. Are they confidence boosters or just a smokescreen? Let’s wade through their potential impact on market sentiment and the ethical quagmire surrounding them.
What are Buybacks Doing Here?
Buybacks. In the crypto realm, they are when the project’s founders decide to buy back their own tokens from the market. The reasons vary: reducing supply, showing faith in the project, or maybe even trying to stop a freefall. But let’s be real, the success of buybacks hinges on the project’s actual fundamentals and how well these moves are communicated.
Take Ethena’s founder, Guy Young, who recently pulled 48 million ENA tokens worth around $20.41 million. While that might raise…
