According to Odaily Planet Daily, in the past 24 hours, Story Foundation has completed IP repurchases worth US$2,976,175 on the open market.

The move is part of an $82 million buyback plan and is closely tied to Story's $360 million IP Reserve Strategy (DTA), a joint venture with US-listed Heritage Distilling (CASK), which launched in early August.

Driven by this news, the IP price rose by more than 50% in 24 hours and is now at US$8.0524.