Pump.fun Team Withdraws $400 Million, Raising Transparency Concerns

A recent revelation about the Pump.fun team’s withdrawal of $400 million in USDC has sparked concern within the cryptocurrency community. On-chain analysis by EmberCN suggests that this significant cash-out occurred over a seven-day period, with funds being deposited into Kraken and subsequently transferred to Circle. This raises questions about transparency, investor protection, and the team’s long-term commitment to the platform.