BIT “jumps” in advance of BitDAO buys back a hundred million USD tokens
The token of BitDAO, a decentralized autonomous organization backed by Bybit, has jumped twenty% due to the fact adopting a $a hundred million BIT buyback propo...
The token of BitDAO, a decentralized autonomous organization backed by Bybit, has jumped twenty% due to the fact adopting a $a hundred million BIT buyback proposal.
As reported by CoinliveBitDAO has commenced thinking of a proposal to devote a $a hundred million buyback price range to obtain back its BIT tokens from December 19th.
With 148 million votes in favor and none towards, the end result would seem clear. The deadline to vote is eleven:00 on December 31st (Vietnam time).
If accepted unanimously, the acquisition course of action will get started on January one, 2023 inside of 50 days, at an cost charge of $two million per day.
After the buyback system, the institution’s treasury will hold 300 million USDT and USDC, 270,000 ETH well worth roughly USD 345 million.
“BIT’s current price is quite attractive, especially with the upcoming Mantle Level 2 project,” mentioned the writer of the “cateatpeanut” takeover initiative. emphasis within propose.
BitDAO Launched in 2021 and supported by the Bybit exchange. BitDAO is various from other DAOs, developed all around DeFi protocols. Instead, BitDAO’s investment approach aims to Web3 study and improvement help by way of incubator grants.
Before closing the proposition, the BIT selling price could not support but “jump”, returning to the preceding month’s selling price degree and trading all around USD .337.
Synthetic currency68
Maybe you are interested:
More From Crypto News
Brian Armstrong: Failed CLARITY Act Could Help Coinbase
Armstrong’s position, as reported by CryptoPotatо , centers on the idea that a legislative failure would leave the existing regulatory landscape intact, a lands...
X Partners With Gemini, Kraken & Moomoo for Timeline Trading
X has announced partnerships with Gemini, Kraken, and Moomoo to let users trade directly from the social media timeline, bringing brokerage and crypto exchange...
Bitcoin Hits $87,000 as Crypto Liquidations Top $1 Billion
Bitcoin briefly tapped $87,000 in a sharp upward move that triggered roughly $1 billion in crypto liquidations across derivatives markets, wiping out leveraged...
Stolen NuNet Key Minted 408.5M NTX in Fetch.ai Theft
A compromised NuNet private key was used to mint 408. 5 million NTX tokens, with the receiving wallet identified as the same address linked to a separate $1.
Bitcoin Nears $86,000, Erasing $86B U.S. Spot ETF Paper Loss
Bitcoin climbed to $85,851 on September 21, 2026, up 5. 57% in 24 hours, pushing the price within striking distance of $86,000, a threshold that, according to u...
Balancer Recovers 296.4 ETH from V1 Exploit; LP Plan Unclear
Balancer has recovered 296. 4 ETH linked to an exploit of its V1 protocol, but the path to compensating affected liquidity providers remains undefined, with no...
