Pump.fun Sold $436M USDC As Revenue Fell 53% Since October Crypto Crash

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Memecoin launchpad Pump.fun has cashed out more than $436 million in stablecoins since October’s record crypto market crash throttled trading activity and slashed the platform’s monthly revenue.

Since Oct. 15, the Solana-based memecoin launchpad transferred $436 million in USDC (USDC) stablecoins to cryptocurrency exchange Kraken, signaling the platform’s operators were cashing out, according to blockchain data platform Lookonchain.

Pump.fun began transferring millions in stablecoins to the exchange a week after the record $19 billion October…



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Pump.fun Sold $436M USDC As Revenue Fell 53% Since October Crypto Crash


Memecoin launchpad Pump.fun has cashed out more than $436 million in stablecoins since October’s record crypto market crash throttled trading activity and slashed the platform’s monthly revenue.

Since Oct. 15, the Solana-based memecoin launchpad transferred $436 million in USDC (USDC) stablecoins to cryptocurrency exchange Kraken, signaling the platform’s operators were cashing out, according to blockchain data platform Lookonchain.

Pump.fun began transferring millions in stablecoins to the exchange a week after the record $19 billion October…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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