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That is how much crypto groups have spent buying back their own tokens, borrowing a capital allocation strategy from equity markets to navigate a prolonged slump in the digital assets sector.
Whether the playbook works the same way when applied to a different type of asset is a question the market is now running live. The case for the approach is grounded in the equity analogue.
When companies buy back stock, they reduce the supply available in the market, concentrate ownership among remaining holders, and signal to investors that management views the price as below fair value.
Crypto firms reaching record aggregate spending on token repurchases are making the same argument. At the level implied by $640mn, the demand commitment is real, even for a sector working through a sustained downturn.
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