As per BeInCrypto, Pump.fun acquired Padre, a multichain trading terminal, to expand its professional retail user base. However, the PADRE token is being phased out, leading to an 80% crash in its value and accusations of a rug pull from the community. Padre’s token will no longer have utility on the platform, and no future plans for it were announced. Pump.fun previously acquired a Solana analytics tool in July and is now integrating Padre’s infrastructure to enhance its business. Despite the backlash, Pump.fun remains prominent despite prior controversies.
Pump.Fun Acquisition Causes 80% Drop in PADRE Token Value
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