Kraken Co-Founder Vows PUMP Airdrop to Disenfranchised Users—Here’s What You Need to Know

Kraken’s co-founder just dropped a bombshell: disgruntled users are getting a shot at redemption with a PUMP token airdrop. Here’s the breakdown.

The Backstory: A Make-Good Move

After months of user complaints—ranging from frozen accounts to withdrawal delays—Kraken’s leadership is tossing a lifeline. The PUMP airdrop aims to placate frustrated traders, though skeptics argue it’s just another crypto band-aid on a gaping wound.

How It Works (And Who Qualifies)

Eligibility hinges on past grievances: think locked funds or botched trades. Kraken hasn’t released exact metrics, but insiders suggest the airdrop could cover thousands of users. Timing? Details are still ‘TBA’—because nothing in crypto ever moves fast unless it’s a crash.

The Fine Print: Always Read It

Expect strings attached. Early leaks hint at vesting periods or trading restrictions. Because what’s a crypto ‘gift’ without a few hurdles? Bonus jab: At least it’s not another NFT.

Bottom Line

Kraken’s playing damage control. Whether this airdrop pumps morale—or just dumps more speculation—remains to be seen. Pro tip: Don’t spend that PUMP before it lands in your wallet.

Kraken’s Arjun Sethi Promises PUMP Airdrop After Token‑Sale Glitch

Kraken co-founder Arjun Sethi pledged to provide an automatic airdrop of PUMP tokens to users who could not finalize their purchases during the recent Pump.fun public token offering, due to Kraken’s system limitations.

“We reviewed internal order logs and client activity to identify those affected. To make this right, Kraken will airdrop PUMP to impacted users once the token is live,” wrote Sethi.

Further, the Kraken Exchange executive articulated that eligibility WOULD prioritize verified order intent during the sale window. This means users do not need to take any action as the distribution will be automatic and free of charge.

In hindsight, the launch generated intense demand, with Kraken sales fully allocated in less than a minute. Meanwhile, as BeInCrypto reported, Pump.fun raised $500 million as tokens sold out in a record 12 minutes.

According to Sethi, despite users’ timely attempts, Kraken’s system could not keep up with the reaction speed required to submit orders.

The MOVE appears to be aimed at rebuilding confidence among Kraken’s user base. It could also help reinforce its commitment to fairness and platform resilience.

“Events like this highlight how important access, speed, and reliability are. We are continuing to invest in all three,” Sethi emphasized.

By taking responsibility for the system constraints, Kraken is distancing itself from its competitors. Its market peer, Bybit, is still under fire for token mismanagement and flawed communication.

Meanwhile, community members received the promise of “no action required” and an automated refund airdrop favorably.

Nice work

This comment from Mert Helius, a popular user on X and CEO of Web3 infrastructure platform Helius Labs, reflects cautious approval of Kraken’s proactive gesture, without discrediting user complaints entirely. Notwithstanding, some users have voiced lingering concerns.

“Can you clarify this a bit? The sale appeared to be open for 15 minutes or so. If you tried to buy through the app, it just said ‘this token has low liquidity / add to favorites.’ Which clients are eligible exactly,” one user posed.

Kraken has not yet clarified whether only “on-screen” order attempts were counted. If so, it could exclude users who encountered ambiguous UI errors.