MultiBank Group Completes First Token Buyback and Burn

Odaily Planet Daily reports that financial derivatives firm MultiBank Group has completed its first token buyback and burn, permanently removing 4,860,000 MBG tokens from the circulating supply. According to its previously disclosed token buyback and burn plan, it expects to repurchase $58.2 million worth of MBG tokens in the first year, totaling $440 million over five years, in an effort to increase token scarcity and value. (Businesswire)