Crypto buybacks hit record $638M this year, led by Hyperliquid and Pump.fun

Cryptocurrency project buybacks reached a record $638 million this year, with Hyperliquid and Pump.fun accounting for about 90% of the total, Cointelegraph reported, citing the Financial Times. Hyperliquid allocated about $370 million to buybacks and Pump.fun about $200 million. Hyperliquid is using about 99% of its revenue for buybacks, while Pump.fun is allocating about 50% of net profit. Since the start of the year, HYPE and PUMP have risen 145% and 109%, respectively, while BTC is down 10% and the total cryptocurrency market capitalization has fallen 11.9%.