MyShell to buy back SHELL tokens after Binance market maker incident

AI consumer layer MyShell (SHELL) has announced via X a 90-day buyback plan for SHELL tokens after terminating its relationship with a crypto exchange Binance-sanctioned market maker. The stablecoins obtained from the market maker’s sales will be fully used to buy back SHELL tokens and MyShell will publish wallet addresses for transparency. Additionally, the team is onboarding new market makers to ensure stable liquidity while continuing to develop open-source AI models and enhance tokenomics. Previously, Binance confiscated illicit profits from the market makers of GPS and SHELL, prompting MyShell to take corrective action.