The post Pump.fun-linked wallet sends $148M in stablecoins to Kraken appeared on BitcoinEthereumNews.com.

A large on-chain transfer linked to Pump.fun has put fresh focus on how the memecoin launchpad is handling the proceeds of its token sale. Summary A Pump.fun-linked wallet sent $148M in USDC and USDT to Kraken. Total deposits since November now exceed $750M from ICO proceeds. The move has renewed debate over treasury use and transparency. A wallet associated with Pump.fun deposited roughly $148 million in stablecoins to Kraken on Jan. 13, according data from to on-chain analyst EmberCN. The latest transaction continues a pattern of sizable exchange-bound transfers seen over the past two months. $148M transfer adds to months-long flow to Kraken Blockchain data shows the latest deposit consisted of USDC and USDT moved to Kraken within a short time window. EmberCN noted that the funds originated from wallets tied to the Pump.fun’s (PUMP) token sale, which took place in mid-2025. The transfer brings the total amount sent to Kraken since Nov. 15 to approximately $753 million in stablecoins. All of the funds are traced back to proceeds from the PUMP initial coin offering, based on publicly visible wallet activity. Similar movements have occurred at regular intervals since late 2025, often involving nine-figure sums. In some cases, stablecoins deposited to Kraken were later observed moving toward Circle-related addresses, suggesting possible redemptions or internal treasury operations. Neither Pump.fun nor Kraken has publicly commented on the purpose of the latest transfer. The scale and consistency of these deposits have drawn attention across crypto markets, especially given Pump.fun’s central role in Solana’s memecoin economy. Treasury management, pressure points, and open questions Pump.fun has previously pushed back against claims that such transfers represent cash-outs or liquidation activity. Team members have described past movements as routine treasury management, including diversification, operational spending, and preparation for reinvestment. Still, the timing has fueled debate. The most…

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Filed under: News - @ January 13, 2026 3:24 am