SEC clears regulatory hurdle as crypto token buybacks hit record $638 million

Crypto projects spent about $638 million on token buybacks through late August 2026, according to Allium Labs data. This marks a record, surpassing the $545 million spent during the same period in 2025. Hyperliquid accounted for roughly $370 million and Pump.fun for about $200 million, together accounting for nearly 90% of the total.