Crypto treasury companies are starting to see share price gains off the back of stock buyback programs, which analysts say could be a sign that the companies are now battling for credibility.
Trump Jr.-linked media company Thumzup, which holds Bitcoin (BTC) and Dogecoin (DOGE), data-ct-non-breakable=”null” href=”https://www.prnewswire.com/news-releases/thumzup-announces-10-million-share-repurchase-program-302565416.html” rel=”noopener nofollow” target=”_blank” title=”null”>said on Wednesday it was increasing a share buyback from $1 million to $10 million, which data-ct-non-breakable=”null” href=”https://www.google.com/finance/quote/TZUP:NASDAQ?sa=X&sqi=2&ved=2ahUKEwib-YP79PKPAxUtUGcHHfzSIykQ3ecFegQIMRAT” rel=”noopener nofollow” target=”_blank” title=”null”>sent its stock (TZUP) up 7% for the session and another 0.82% after hours to trade $4.91.
At the same time, Solana treasury company DeFi Development Corp (DFDV) data-ct-non-breakable=”null” href=”https://x.com/defidevcorp/status/1970837949010083958″ rel=”noopener nofollow” target=”_blank” title=”null”>expanded its share…
