Pump.fun Cashed Out $436M Since Mid-October: Lookonchain

Large USDC transfers to Kraken and months of SOL selling are intensifying concerns about declining revenue and possible de-risking by the team.

AI-generated

Posted November 25, 2025 at 8:53 am EST.

Popular memecoin launchpad Pump.fun moved roughly 436.5 million USDC to Kraken since Oct. 15, according to onchain tracking by Lookonchain.

Sizable deposits into crypto exchanges are widely interpreted as a “cash out” or withdrawal of funds from the platform’s treasury or related wallets.

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Lookonchain’s analysis also suggests that between May 2024 and August 2025, Pump.fun sold at least $757 million worth of SOL.

The moves come as Pump.fun’s trading activity and revenue have declined from prior peaks, increasing community concern about potential selling pressure or de‑risking by the team.

At the height of memecoin mania, Pump.fun’s monthly revenue was $137 million in January. Last month, the platform’s monthly revenue stood at a much lower $39.22 million.