Market News / Story
NEAR Treasury Firm CEO Says Buybacks Are 'Still Real,' But Issuance Runs Six Times Higher
Stocktwits ·
Stocktwits reports: NEAR Protocol (NEAR) was in focus on Tuesday after Sal Ternullo, CEO of Nasdaq-listed NEAR treasury company SVRN, said that token buybacks are "still real," but the network was issuing more than six times as much new NEAR as those buybacks removed. Speaking on the Bankless podcast, Ternullo said fees from NEAR Intents, the network's cross-chain swap service, were being used to buy NEAR on the open market. Those purchases came to about $1.9 million over 30 days. New NEAR…