Genius Terminal co-founder Ryan Myher said the Genius Foundation has completed a vote on how to use roughly $125,000 worth of BNB that cannot be unwrapped into the underlying stock. The result was an even split: 50% of the funds will be used to buy GSTOCK and the other 50% will go into GENIUS. According to the disclosure, the funds came from fees accumulated in the foundation treasury through the Genius.fun launch platform. The foundation said it will carry out the decision and post an update on X once execution is complete. GMGN data cited in the report showed that GENIUS, the platform token, had a market capitalization of $345 million at the time of publication. GSTOCK had a market capitalization above $24 million, a 24-hour gain of 24.2%, and $8.4 million in trading volume. The report also said GSTOCK is paired in its liquidity pool with BNCB, the on-chain token of BNB treasury company BNC. BlockBeats added a risk warning, noting that the tokens involved are highly volatile and that users should be cautious when investing.
BlockBeats reported on Sept. 26 that Genius Terminal co-founder Ryan Myher disclosed the result of a vote on how the Genius Foundation will use about $125,000 worth of BNB that cannot be unwrapped into the underlying stock.
The vote allocated the funds evenly. Half will be used to buy GSTOCK, and the other half will be used to buy GENIUS.
According to the report, the BNB came from fees accumulated in the foundation treasury through the Genius.fun launch platform. The foundation said it will act on the vote result and publish an update on X after the purchases are completed.
Token data cited in the report
Data from GMGN showed that GENIUS, the platform token, had a market capitalization of $345 million.
GSTOCK had a market capitalization of more than $24 million, was up 24.2% over the past 24 hours, and recorded $8.4 million in trading volume. The report added that GSTOCK is paired in its liquidity pool with BNCB, the on-chain token of BNB treasury company BNC.
BlockBeats warned that the related tokens have seen sharp price swings and said users should be cautious with investment decisions.
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