USDI buys back 22.34M CHIP tokens for $1M
- —22,343,372 CHIP repurchased with USDC across multiple exchanges
- —Average buyback price was $0.044756 per token
- —Total spend came to about $1 million
- —No details on token use or potential burn
Why it matters: The buyback reduces CHIP's circulating supply, but without a burn commitment the price impact is limited.
Source: Blockmedia