According to @mcuban, an unnamed company plans to increase share buybacks, which he argues signals insufficient confidence to reinvest in the business, and he calls for taxing buybacks more unless firms grant stock to all employees at parity to CEO and executive cash-earnings value. Source: Mark Cuban on X, Oct 12, 2025. The United States already levies a 1 percent excise tax on corporate share repurchases under the Inflation Reduction Act, with implementation guidance in IRS Notice 2023-2. Source: IRS Notice 2023-2 and Inflation Reduction Act of 2022. The White House Fiscal Year 2024 budget proposed raising the buyback excise tax to 4 percent, underscoring rising policy risk for buyback-heavy issuers. Source: White House FY 2024 Budget Fact Sheet. Corporate buybacks have been the largest net source of U.S. equity demand in recent years, so policy shifts that reduce repurchases can affect equity liquidity that traders monitor. Source: Goldman Sachs Global Investment Research US equity buybacks reports 2019-2023. For crypto, IMF research finds crypto assets such as BTC and ETH have shown higher correlation with equities since 2020, meaning changes that influence equity risk sentiment and liquidity may have spillover effects that crypto traders track. Source: IMF Global Financial Stability Report 2023 and IMF blog analysis 2022 on crypto–equity correlation.

According to @MilkRoadDaily, BMNR holds more than 1.5 million ETH on its balance sheet, about 1.2% of Ethereum's supply. According to @MilkRoadDaily, BMNR's stock traded $32 billion in volume last week, placing it among the most liquid U.S. equities.