@ijatz, the clearest answer is that this looks less like “we stopped caring about LEO” and more like “we redirected focus toward building revenue engines first, then using that revenue for buybacks.” In this May 6 LeoStrategy thread, they say they’ve been “hard at work on a number of revenue-generating aspects of LeoStrategy” and that “all revenue flows downstream to the RCBF which fuels buybacks,” which reads like a shift from direct/open-market purchases toward revenue-funded buyback mechanics. They doubled down the same day in this reply, framing weak sentiment as a short-term problem while they keep scaling products, and this May 11 update suggests the strategy is still in a build/shipping phase rather than a resumed-buyback phase. So the likely reason is capital allocation: pause obvious LEO buys, push resources into product/revenue generation, then let RCBF-driven buybacks do the heavy lifting later.