Raydium has cumulatively spent $190 million to repurchase 69.10 million RAY tokens, accounting for 25% of the circulating supply.

Infra data shows that as of July 2025, Raydium has cumulatively invested $190.4 million $USDC to repurchase $RAY, with a cumulative repurchase of 69.10 million tokens, accounting for 25% of its circulating supply. [Odaily Planet Daily]