SHOCKING,” “BUSTED,” “Secrets Revealed” might work. Need to include the $75M and Kraken. Also mention the denial and possible implications.\n\nPossible title: “Pump.fun Moves $75M to Kraken Amid Claims of Secret Cash-Out Scheme!” But check the character co

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Pump.fun team moves another $75M to Kraken as cash-out claims intensify

Pump.fun is once again drawing attention due to a recent surge in stablecoin transactions, prompting renewed scrutiny of its operations.

Summary

  • Pump.fun sent another $75M USDC to Kraken, bringing total transfers since Nov. 15 to $480M.
  • The team denies cashing out, saying the movements are part of treasury management using USDC raised from its ICO.
  • PUMP trades at $0.00294, down 38% over the month, with analysts expecting further weakness.

On November 27th, Pump.fun transferred another $75 million in USDC to the Kraken exchange, prompting renewed discussion about the project’s recent use of stablecoins.

As a crypto investor, I’ve been following the recent moves of this team closely. It looks like they’ve deposited around $480 million onto an exchange in the last 12 days, and all of that money originally came from their initial coin offering – basically, the funds people used to buy in early.

Fresh transfers spark speculations

This recent activity mirrors a transaction from earlier this week that raised concerns. After $75 million was deposited into Kraken, approximately $69.26 million in USDC was transferred from the exchange to Circle, the company that created USDC.

This recent activity resembled a similar pattern crypto.news reported on November 24th: $405 million moved into Kraken, followed shortly by about $466 million leaving for Circle. Experts believe these kinds of transfers usually indicate people are converting USDC back into other currencies, and that’s why it immediately caught people’s attention.

Pumpfun has continued transferring USDC to Kraken, moving another 75 million in the last 8 hours. Over the past 12 days (since November 15th), they’ve sent a total of 480 million USDC – earned from their initial coin offering (ICO) – to the exchange.

The Pumpfun team recently stated these transfers weren’t withdrawals, but rather a diversification of funds to reinvest in the business. However, developments overnight suggest…

— 余烬 (@EmberCN) November 27, 2025

Sapijiju, a co-founder of Pump.fun (PUMP), had previously refuted claims that funds were being withdrawn. He explained that the transfers were simply normal management of the company’s finances, not an attempt to take money out. He also emphasized that Pump.fun has never worked directly with Circle and that the transfers did not involve any withdrawals.

He explained that the funds raised from the initial coin offering (ICO) for USDC were being moved between different accounts to cover current expenses and fund future improvements.

Controversy around token allocations

This new disagreement adds to the growing concerns about Pump.fun, which has already been criticized for how its token system is designed. In a private sale, 18% of the total one trillion PUMP tokens were sold to investors for $0.004 each, generating roughly $720 million.

After the trading began, experts noted that people with inside connections and early access controlled over half of the available items. This imbalance, community members argued, created an unfair start to the market.

Pump.fun has generated over $910 million in revenue since it began, according to data from Dune Analytics, even though the number of successful tokens launched on the platform is relatively low. This factor adds complexity to how the project makes money, and revenue has recently slowed down somewhat.

The recent market slowdown seems to be linked to worries about sales from large wallets, significant shares held by company insiders, and questions about whether company buybacks are being offset by other financial activities.

Legal pressure and market reaction

Pump.fun is currently involved in class-action lawsuits in New York, claiming the platform sold tokens without proper registration and made false promises about potential earnings. This legal trouble has negatively impacted how people feel about the market, and PUMP is currently trading at $0.00294 – a 38% decrease for the month.

According to Coincodex, the market is expected to remain unstable through December. This is due to significant price swings and a very high level of fear among investors, as indicated by a score of 15 on the Fear & Greed Index.

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2025-11-27 06:33