Jupiter CTO questions $70M JUP buybacks as token slides 88% from 2025 peak

On 2 January, Jupiter Co-Founder and CTO Siong Ong said the Solana-based DeFi super-app may wind down its JUP token buyback program after spending over $70 million with limited price impact. Launched in mid-February 2025, the buybacks preceded a 300% rally but JUP later fell from $1.8 to $0.2, leaving the community divided between redirecting revenue to stakers and concerns over long-term product growth.