Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
From pumps to dumps: Pump.fun transfers large stablecoin sums as PUMP token goes flat

From pumps to dumps: Pump.fun transfers large stablecoin sums as PUMP token goes flat

Crypto.NewsCrypto.News2025/11/23 16:00
By:By Caroline ÁlvarezEdited by Anthony Patrick

Memecoin launchpad Pump.fun has transferred substantial stablecoin holdings to exchanges, drawing scrutiny from crypto investors amid declining platform revenue, according to blockchain data.

Summary
  • Since mid-October, Pump.fun has moved significant amounts of stablecoins to Kraken and then to Circle, likely representing withdrawals tied to its declining revenue.
  • Pump.fun’s native PUMP token, sold to institutional investors in June, has fallen below its issue price.
  • The official Pump.fun account and co-founder Alon have been largely inactive since mid-November, raising investor concerns.

The Solana-based platform has moved significant amounts of stablecoins since mid-October 2025, following a crypto market downturn that reduced trading activity and monthly revenue, according to blockchain data platform Lookonchain.

Since October 15, Pump.fun has transferred stablecoin holdings to the exchange Kraken, blockchain data shows. In the past week, the platform moved large sums to Kraken, with similar amounts subsequently transferred from Kraken to Circle, the stablecoin issuer, likely representing withdrawals, according to the data.

The funds originated from sales of the PUMP token to institutional private placements in June, according to blockchain analytics. The token has since fallen below that issue price.

The not-so-fun side of PUMP

The transfers have drawn criticism from crypto investors, who view them as potential selling pressure while the platform’s monthly revenue has decreased significantly. The official Pump.fun account on X has been inactive for more than a week, and co-founder Alon was last active in mid-November, according to social media records.

Pump.fun’s native token has declined sharply and is trading well below its all-time high recorded in September 2025. The price drop reflects platform-specific challenges and broader market conditions, analysts said.

Pump.fun, launched in January 2024 on Solana, allows users to create and trade memecoins. The platform uses a bonding curve model to determine token prices. It includes a mechanism designed to prevent “rug pulls” by requiring tokens to reach a certain market capitalization before listing on decentralized exchange Raydium.

The platform has faced controversies, including issues around livestreaming features and regulatory warnings about unregulated gambling in some jurisdictions, according to industry reports.

A new federal lawsuit alleged that the company and its partners ran a meme coin operation designed to defraud users .

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Ethereum Updates Today: Fed's QT Conclusion and FUSAKA Enhancement May Drive Ethereum's Upcoming Surge

- Ethereum tests $2,850 support as ETF inflows and FUSAKA upgrade boost institutional confidence. - FUSAKA upgrade introduces PeerDAS, boosting data capacity eightfold and cutting L2 fees by 90%. - Fed’s December QT end and rate cut expectations fuel liquidity and bullish sentiment. - Technical indicators show consolidation near $2,800–$3,080, with potential for $3,550 by mid-2026 if upgrades align with liquidity.

Bitget-RWA2025/11/30 10:32
Ethereum Updates Today: Fed's QT Conclusion and FUSAKA Enhancement May Drive Ethereum's Upcoming Surge

Xerox Campus Transformation in Webster, NY: Revealing Hidden Value in Real Estate and Infrastructure

- Webster , NY, partners with state grants and private investors to transform a 300-acre Xerox brownfield into a high-tech industrial hub. - A $9.8M FAST NY grant funds infrastructure upgrades, making the site shovel-ready for advanced manufacturing by 2025. - Municipal boundary adjustments and a $650M fairlife® dairy plant highlight strategic efforts to attract high-value industries and create 250 jobs. - Rising property values (10.1% annual growth) and 2% industrial vacancy rates signal strong demand, bo

Bitget-RWA2025/11/30 10:28
Xerox Campus Transformation in Webster, NY: Revealing Hidden Value in Real Estate and Infrastructure

Astar 2.0's Influence on the Market: Transforming DeFi and Boosting Token Worth

- Astar 2.0 introduces Tokenomics 3.0 with a fixed 10.5B ASTR supply and deflationary burn mechanisms to attract institutional investors. - Hybrid ZK Rollup-EVM architecture achieves 150,000 TPS and cross-chain interoperability via Plaza, supported by Sony , Toyota , and Japan Airlines partnerships. - Governance reforms and community-driven councils by mid-2026 aim to align with institutional expectations, while Startale App launch in 2026 targets mass adoption.

Bitget-RWA2025/11/30 10:28
Astar 2.0's Influence on the Market: Transforming DeFi and Boosting Token Worth