[DeFiance Capital CEO: PUMP has repurchased 11% of circulating supply, price still below issue price] DeFiance Capital CEO and CIO Arthur Cheong tweeted that since the launch of the buyback program, PumpFun has repurchased 11% of the circulating supply of PUMP tokens, with an estimated annual buyback scale of $400 million to $500 million. However, the current price of PUMP remains below its public issue price of $0.004, and the market is still in a 'speculative discount' phase for the token.