Solana-Based Memecoin Platform Pump.fun Team Cashes Out Over $400 Million

Lookonchain, citing Arkham Intelligence data, revealed that the team behind the Solana-based meme coin platform, Pump.fun, may have begun cashing out on their project.

The report alleged that Pump.fun has deposited at least $436.5 million in Kraken since Oct. 15, 2025. Interestingly, the transfer follows Pump.fun’s historical token divestment pattern over the past year.

Pump.Fun Team Continues Transfer to Kraken

According to Lookonchain, Pump.fun has made substantial sales of Solana (SOL) tokens over the past year.

Specifically, the platform has sold a total of 4.19 million SOL, worth $757 million, between May 19, 2024, and August 12, 2025. This includes 264,373 SOL dumped on-chain for $41.64 million and 3.93 million SOL deposited into Kraken.

However, following the latest deposit, about 537.6 million USDC flowed from Kraken to Circle, the USDC stablecoin issuer. This suggests that Pump.fun’s deposit was likely a major withdrawal.

EmberCN, an on-chain data analyst, opined that the money is likely funds obtained from selling PUMP to private institutional investors. He suggested that the sales were made in June when the price for institutional private placements was $0.004.

Meanwhile, Pump.fun or any of its executives have not publicly commented on these asset movements as of press time. As a result, the actions have exacerbated the existing panic among Pump.Fun community members.

Notably, the latest USDC transfer raises concerns about the project’s ongoing buyback effort for its PUMP token.

On July 15, Pump.fun began its token buyback strategy with a 2.4 billion PUMP repurchase from the market. The strategy, used by many crypto projects, allows them to repurchase their tokens for permanent destruction. It reduces the token supply and subsequently contributes to its value.

Pump.Fun website data shows that since the token launch, the project has repurchased 981,266 SOL. These purchases are valued at over $186 million and have reduced the total circulating supply by 12.067%.

On Nov. 23 alone, the platform bought 325.4 million PUMP for 6,559 SOL. That surpassed its daily revenue.

Amid these actions, the project’s PUMP token has continued to suffer significant losses. CoinMarketCap data indicates that the token currently trades at around $0.002574. This follows a decline of more than 36% over the past month and over 23.5% during the last seven days.

Pump.Fun Introduces New Features

Pump.fun has recently initiated a series of actions aimed at expanding its platform’s operations.

Earlier this month, the platform unveiled its flagship feature, Mayhem Mode. The feature is available as an experimental setting for new coins on the bonding curve, allowing them to utilize AI trading agents.

These autonomous AI agents inject volume and volatility into projects in their first 24 hours to make them more appealing.

The platform also acquired Padre in October to facilitate trading of tokens on launchpads and exchanges across networks. The trading terminal, now renamed ‘Terminal’, is expected to offer fast shipping and improvements alongside high responsiveness and feedback execution.