Hi, user_no_name

Trade now

Deposit

Logout
Login Sign Up
EN

Language

English English (Global)

English English (EU)

English English (UK)

English English (AU)

English English (ZA)

English English (St. Vincent)

Deutsch German

Español Spanish (Latam)

Español Spanish (Spain)

Français French

Dansk Danish

Italiano Italian

Nederlands Dutch

العربية Arabic

Svenka Swedish

Tiếng việt Vietnamese

Bahasa Melayu Malay

ภาษาไทย Thai

繁體中文 Traditional Chinese

简体中文 Simplified Chinese

Tagalog Tagalog

தமிழ் Tamil

हिन्दी Hindi

Português Portuguese

Bahasa Indonesia Indonesian

한국어 Korean

English English (BVI)
Markets

Products

Forex

Shares

Commodities

Indices

Crypto

ETFs

Bonds
Trading

Trading Platforms

Web Platform

App

MT4

MT5

Trading Central

Trading Tools

CFD Trading Calculator

Forex Margin Calculator

Commodities Profit Calculator

Forex Profit Calculator

Economic Calendar

Quotes

Forex Heatmap

Trading Info

CFD Trading

CFD Asset List

Trading Conditions

Trading Hours

Expiration Dates

Upcoming Trading Holidays

Weekly Expiration Rollover

Trading Features

Depth of Market
Learn

Learn to Trade

Glossary

Education Centre

Trading Basics

Video library

News & Analysis

news

Academy

Trader's clinic

Webinars

US Nonfarm Payrolls
Promo

Reward Hub

marketsClub

Welcome Bonus

Loyal Bonus

Referral Bonus

Swap-free Accounts
Partnership

Affiliation

IB
About

About Markets.com

Why markets.com

Global Offering

Our Group

Careers

Awards and Media

Help Support

FAQ

Help Centre

Contact Support

Complaints

Data & Security

Safety Online

Cookie Disclosure

Legal Pack

Legal Documents

Language

Pump.fun Cashes Out $436M in Stablecoins Amid Crypto Market Downturn

Monday Nov 24 2025 10:30

2 min

Table of Contents

1. Article Highlights
2. Details of the Withdrawals
3. Impact on Pump.fun's Revenue
4. Reactions and Criticisms
5. Further Analysis
6. Conclusion

Article Highlights

Pump.fun transfers over $436 million in USDC to Kraken.
Withdrawals began after the October crypto market crash.
Pump.fun's monthly revenue has significantly declined.
Investors are concerned about the platform's future and potential further sell-offs.

Details of the Withdrawals

Since mid-October, Pump.fun, a Solana-based memecoin launchpad, has moved a substantial $436 million in USDC stablecoins to the Kraken exchange. This move, tracked by blockchain data platform Lookonchain, suggests potential asset liquidation by the platform's operators. The transfer coincided with a sharp downturn in the crypto market in October, which saw an estimated $19 billion wiped from the market. This downturn significantly dampened investor appetite for speculative memecoins, leading to a substantial drop in Pump.fun's revenue.

Impact on Pump.fun's Revenue

According to data from DefiLlama, Pump.fun's monthly revenue fell below $40 million for the first time since July, reaching $27.3 million in November. This represents a 53% decrease compared to September's $58.9 million. The sharp decline reflects the impact of the market downturn on trading activity within the platform.

Reactions and Criticisms

Pump.fun's large-scale transfers have triggered widespread criticism among crypto investors, who see it as a potential precursor to further selling pressure from the platform. This concern stems from the fact that the Pump.fun wallet still holds approximately $855 million in stablecoins and $211 million in Solana tokens.

Further Analysis

Analyst EmberCN suggested that these transfers might be withdrawals rather than immediate sell-offs, and that the funds could have originated from institutional private placements of the $PUMP token in June at a price of $0.004. However, these explanations have not alleviated investor concerns about the platform's future.

Conclusion

Pump.fun's stablecoin withdrawals raise significant questions within the crypto market. While there may be legitimate reasons for these transfers, they also spark concerns about the platform's strategy and investor confidence in its future.

Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Written by:

Ava Grace

Pump.fun Cashes Out $436M in Stablecoins Amid Crypto Market Downturn

Article Highlights

Details of the Withdrawals

Impact on Pump.fun's Revenue

Reactions and Criticisms

Further Analysis

Conclusion

Latest news

Cookies

Strictly Necessary

Functionality Cookies

Targeting Cookies