Sonic CEO Mitchell Demeter attributed last night's market crash to leverage liquidations and forced sell-offs, highlighting the rapid clearance of leveraged positions amid global uncertainty. Despite significant volatility in the S token, Demeter assured that Sonic's fundamentals remain unaffected, with the network operating smoothly and without transaction backlogs during the downturn. Sonic has repurchased approximately 30 million S tokens, valued at around $6 million, to bolster its treasury. The company remains focused on product development, technology, and long-term partnerships.