Pump.fun Denies Cashing Out USDC; USDC From PUMP ICO Moved to New Wallet for Reinvestment, No Direct Circle Involvement

COINOTAG News, Nov 25 — Pump.fun’s co-founder and CTO Dylan Kerler addressed circulating speculation on social media, insisting that No Pump.fun funds have been cashed out and that the firm did not participate in the trades between Kraken and Circle as analysts have suggested. Kerler described the incident as a liquidity maneuver, noting that USDC from the PUMP ICO was moved to an alternate wallet to free operating capital for reinvestment in the business. He added that Pump.fun has not directly engaged with the USDC issuer Circle. Earlier reporting suggested a withdrawal exceeding $400 million, with no formal update from the team for more than a week.