Crypto Trader Kimchi Removes Pump.fun From Bio After Possible $6.25M Token Payment

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Crypto market trader Kimchi removed Pump.fun from their social media bio after reportedly receiving 1.35 billion PUMP tokens, valued at approximately $6.25 million, as a marketing payment. During the same two-day period, Pump.fun’s daily revenue declined by 16% to $1.35 million, and active addresses dropped by 11% to 159,492. Neither party has confirmed the payment. The incident has sparked concerns about undisclosed paid influencer promotions in the crypto market, where token rewards can be substantial. Crypto analysis of such actions underscores the need for greater transparency in influencer-driven campaigns.
CoinMarketCap reports:

After promoting the memecoin launch platform Pump.fun for two days, crypto trader Kimchi removed Pump.fun from his social media bio. According to Lookonchain, during this period, Kimchi may have received 1.35 billion PUMP tokens, worth approximately $6.25 million, as payment for marketing.

Over the same two days, Pump.fun's metrics weakened. Daily revenue dropped 16% from $1.61 million to $1.35 million, while active addresses fell 11% from 178,539 to 159,492.

As of now, neither Kimchi nor Pump.fun has confirmed this payment.

This incident has once again drawn attention to the issue of paid influencer promotions in the crypto space, where disclosures are often lacking and token rewards can be substantial.

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