The CHIP governance token surged 19% after USD.AI announced a $1 million buyback, while trading volume jumped 331%, equivalent to more than 70% of the token’s market capitalization. USD.AI purchased 22,343,372 CHIP tokens with USDC at an average price of $0.044756 per token. At the time of publication, CHIP was trading at $0.05058, up 8.9% over 24 hours. The buyback came after Elon Musk warned that more than 200 AI-focused cloud infrastructure providers could fail as access to financing becomes increasingly difficult. CoreWeave had $35.6 billion in outstanding debt against $5.5 billion in cash at the end of June 2026, while Gartner predicts that 80% of neocloud providers could shut down by 2030.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
