El-Sayed wants buybacks banned as crypto spends record sums on them

Crypto Insight Summary: Michigan Senate candidate Abdul El-Sayed says stock buybacks should be illegal. His comment, which came days after General Motors unveiled a $20 billion repurchase, does not broadly affect crypto buybacks. Buybacks in the crypto sector run on two separate tracks, and only one of them will be affected by the ban El-Sayed is calling for.... Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: Crypto buybacks operate differently from traditional stock buybacks and are unlikely to be impacted by this proposal.