DeFi Development Corp. authorizes open-ended buyback for CHAD preferred stock

Holders of CHAD preferred stock would notice that DeFi Development has put a buyback program in place, even though no repurchases are planned right away. That matters today because the authorization exists now and applies to both current and future shares, but the actual buying has not started.

In practice, the company now has a standing buyback framework for CHAD preferred stock instead of a one-time or date-limited authorization. The open-ended setup leaves room for repurchases if the stated price condition is met, while the announcement also says the company is not moving to buy shares immediately.