PANews reported on March 10 that MyShell released an official statement on the Binance announcement and the SHELL repurchase plan: "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 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 transparency throughout the process, we will publish the wallet addresses related to the repurchase for community members to verify. In addition, we are working closely with Binance to ensure the openness and transparency of this process."