Lighter says it has bought back 16M LIT, begun quarterly burns

Decentralized perpetual futures exchange Lighter (LIT) has bought back more than 16 million LIT and recently began quarterly token burns, founder Vladimir Novakovski said on X. Novakovski said Lighter had the same issuing entity before its token generation event (TGE) and at the time of the TGE, and added that while it offered existing holders a chance to sell their stakes, most chose to keep holding. Novakovski also said that once the CLARITY Act and the U.S. SEC’s regulatory framework overhaul are completed, on-chain fundraising and crypto-based stock tokenization are likely to become widespread.