On March 10, MyShell released an official statement on Binance announcement and SHELL repurchase plan: "On March 7, we received a notice from the Binance team that one of our market makers was involved in violations. In response, we immediately terminated our cooperation with the market maker and introduced several new partners to ensure stable liquidity. All Binance accounts related to the 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 full transparency, we will publish the wallet addresses related to the repurchase for verification by community members. In addition, we are working closely with Binance to ensure openness and transparency in this process."