Pump.fun Addresses $436M Controversy, Gnosis DAO Terminates Partnership

The crypto platform Pump.fun is facing accusations of financial irregularities after a significant transaction involving Kraken and Circle was flagged by blockchain analytics firm Lookonchain. Co-founder Sapijiju denies any involvement in these transactions, claiming they are part of the company’s treasury management strategy. However, critics point to contradictory statements regarding the alleged fund movement, leading to a drop in Pump.fun’s revenue amidst growing doubts about its financial practices and leadership.