Kraken Processes $436 Million Pump.fun Withdrawal Amid Solana Memecoin Crisis

In a dramatic turn of events that has shaken the Solana memecoin ecosystem, Pump.fun has withdrawn a staggering $436.5 million in USDC through major exchanges including Kraken and Circle since October 2025. The massive capital outflow, reportedly sourced from June's PUMP token private sale, has triggered widespread community backlash and sent the PUMP token into a tailspin. The token has plummeted 22% this week alone to $0.002626, now trading below its private sale price and raising serious questions about the sustainability of memecoin launchpads. This development represents one of the largest capital movements in recent cryptocurrency history and highlights the volatile nature of meme-based digital assets. The timing and scale of these withdrawals through established exchanges like Kraken suggest a coordinated exit strategy that has left investors reeling. As the Solana ecosystem grapples with this crisis, industry observers are watching closely to see how this will impact investor confidence in memecoin projects and whether regulatory scrutiny will follow. The situation underscores the importance of transparency in cryptocurrency projects and serves as a cautionary tale for investors in the rapidly evolving digital asset space.

Pump.fun Withdraws $436 Million Amid Token Plunge and Community Backlash

Pump.fun, a Solana-based memecoin launchpad, has triggered community outrage after withdrawing $436.5 million in USDC since October. The funds, reportedly sourced from June's PUMP token private sale, were moved through Kraken and Circle—actions interpreted as large-scale capital outflows.

The PUMP token has cratered 22% this week to $0.002626, now trading below its private sale price. This downturn coincides with revelations of planned $757 million SOL sales between May 2024 and August 2025, further eroding trust in the project's financial stewardship.

Blockchain researcher EmberCN tracked $405 million USDC transfers to Kraken last week, followed by $466 million shifting to Circle's USDC pool—a sequence suggesting fiat conversion. The project's opaque fund management contrasts sharply with its July 2024 ICO success, where $500 million was raised in under 12 minutes.

Pump.fun’s $436M Withdrawal Sparks Alarm as Memecoin Momentum Fades

Pump.fun, the Solana-based memecoin launchpad, has withdrawn over $436 million in USDC to Kraken following October's crypto market crash. The move suggests operators are cashing out amid declining platform revenue and waning retail interest.

Revenue plummeted 53% to $27.3 million in November from September's $58.9 million, marking the lowest figures since May. The PUMP token continues to slide despite substantial reserves and the introduction of AI Mayhem Mode, reflecting broader fatigue in speculative memecoin trading.

Blockchain data reveals the stablecoin transfers began a week after October's $19 billion market meltdown, which severely dampened trader appetite for high-risk assets. The withdrawals coincide with shrinking activity across memecoin markets, where retail participation has notably receded.

Pepe Coin Price Prediction: PEPE Steadies at Support as Altcoin Momentum Builds

Pepe (PEPE) shows signs of stabilization NEAR the $0.000004 support level, coinciding with a broader recovery in mid-cap altcoins. The meme token, which lost over 50% of its value during October 2025's market downturn, is now retesting a critical trendline that could signal the end of its bearish phase.

Market analysts highlight increased buyer interest at current levels, with trading volume serving as a key indicator for whether this MOVE represents a temporary bounce or a sustained trend reversal. Kraken-shared TradingView charts reveal a potential structural shift, as a former resistance trendline now acts as support.

The altcoin market's improved sentiment appears to be driving speculative interest in PEPE, though questions remain about the longevity of this recovery. Technical patterns suggest the possibility of further upside if current support holds, marking what could be the first meaningful rebound since May 2025's peak.

Pump.fun Co-Founder Denies Cash-Out Allegations Amid Community Backlash

The co-founder of memecoin platform Pump.fun has publicly refuted accusations of orchestrating a massive cash-out via Kraken. Onchain analysts at Lookonchain flagged suspicious wallet movements totaling $27.3 million since October, coinciding with the platform's declining revenues and a 70% drop in its native token value from September peaks.

In a defiant response on X, the executive framed the transactions as routine treasury management. The crypto community remains polarized, with critics alleging financial manipulation while supporters defend the project's transparency. Market observers note the controversy highlights growing scrutiny of memecoin platforms' financial practices during bearish conditions.