Pump.fun Co-founder Denies Massive Cash Out, Claims Transfers Were Part of Treasury Management

Sapijiju, co-founder of Pump.fun, has refuted allegations that the project conducted a $436 million stablecoin withdrawal. He insists that the funds were merely redistributed to internal wallets as part of the company’s treasury management process, with USDC originating from the initial PUMP token ICO and subsequently allocated to various internal accounts. This redistribution was framed as essential for sustaining the business operations moving forward.