Back

Pump.fun Moves Additional $50M USDC to Kraken Exchange

Since November 15, Pump.fun has funneled $605 million from its ICO to Kraken, while the PUMP token continues to trade well below its initial offering price.

USDC

Summary

Pump.fun transferred $50 million in USDC to Kraken, raising the total ICO-related transfers since November 15 to $605 million. The PUMP token, issued at $0.004 during its June ICO, now trades at $0.0018, representing a 55% decrease from its launch value.

Terms & Concepts
  • USDC (USD Coin): A stablecoin pegged to the U.S. dollar, commonly used for digital transactions and trading.
  • ICO (Initial Coin Offering): A fundraising method in which new cryptocurrency projects sell tokens to investors before launch.
  • Kraken: A major U.S.-based cryptocurrency exchange offering trading and custodial services.