Michigan Senate candidate El-Sayed calls for ban on stock buybacks
- —El-Sayed wrote on X that "stock buybacks should be illegal," criticizing GM
- —GM announced a $20 billion buyback, the largest in US automaker history
- —Strategy repurchased $193.1 million of STRC shares and raised its program limit to $3 billion
- —Token buybacks hit a record $638 million; Hyperliquid burns HYPE using 99% of eligible fees
Why it matters: A corporate buyback ban would hit Strategy, while protocol token buybacks fall outside its scope and are gaining clearer SEC backing.
Source: Cryptopolitan