On March 10, MyShell issued an official statement on Binance's announcement and SHELL repurchase program: "On March 7, we received a notice from the Binance team stating that one of our market makers was involved in violations. In response, we immediately terminated cooperation with the market maker and introduced a number of new partners to ensure stable liquidity. All Binance accounts associated with this market maker have been suspended and their remaining assets will be transferred to our new market maker. In addition, all stablecoins sold by the market maker will be used to repurchase SHELL within 90 days. To ensure transparency throughout the process, we will publish the wallet address related to the repurchase for verification by community members. In addition, we are working closely with Binance to ensure that this process is open and transparent."