Token Buyback Progress for 3 Projects Tied to MM Misconduct
GoPlus Security (GPS)
Buyback Progress: 0% (per your data) → Updated: ~8% (per @GoPlusSecurity on X).
⇢ Amount: $4.34M.
⇢ Token Price: Up 4.19% since March 23.
⇢ Details: GoPlus announced on X (March 23) that they’ve moved frozen funds to a company account with Binance’s help and kicked off the buyback. By March 25, they’ve repurchased 34.9M GPS ($376K at ~$0.0108 per CoinGecko), hitting roughly 8% of the $4.34M goal. Tokens will be burned post-buyback, with the process ongoing.
MyShell (SHELL)
⇢ Buyback Progress: 81.12% | $8M.
⇢ Token Price: Up 8.07% since March 13.
⇢ Details: Per allinstation.com (March 18), MyShell had bought back 18.45M SHELL ($5.43M), or ~68% of the $8M plan. Now at 81.12% ($6.49M), they’ve added ~$1M in the past week. The 90-day buyback aims to stabilize the token post-MM fallout, with ~$1.51M left to go.
Movement (MOVE)
⇢ Buyback Progress: 14.31% | $38M.
⇢ Token Price: Up 31.62% since March 25.
⇢ Details: Coin68.com (March 25) reports Movement Foundation launched a $38M MOVE buyback on Binance over 3 months after cutting ties with the rogue MM (linked to GPS and SHELL issues). At 14.31% (~$5.44M), MOVE piked to $0.477 before settling at $0.45 by day’s end, reflecting early community hype.
Quick Take:
⇢ GoPlus: Slow start but picking up with transparency—price ticking up shows cautious optimism.
⇢ MyShell: Nearing the finish line, signaling a strong recovery push. Steady gains are a green flag.
⇢ Movement: Early days, but the 31.62% jump hints at high expectations, though profit-taking could cool it off.
All three are using Binance-seized MM funds or internal reserves to cut supply and prop up prices. Success hinges on execution and market response. What’s your view—enough to rebuild trust, or just a Band-Aid? Let me know!
