As reported by BitcoinWorld, the Pump.fun team deposited $75 million in USDC to Kraken, raising concerns about a potential cash-out. This follows a $400 million deposit on November 24th, bringing the total to $480 million. Blockchain analytics firm AmberCN noted that 69.26 million USDC from the latest transfer moved to Circle, suggesting conversion to traditional currency. The team has denied the cash-out claims, but the pattern of withdrawals has led to increased scrutiny and uncertainty among investors.
Pump.fun's $75M Kraken Deposit Sparks $480M Cash-Out Speculation
BitcoinWorldShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.