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Pump.fun co-founders: The company's funds have not been trapped, and the purpose of transferring USDC during the ICO is to reinvest operational funds back into the business.

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On November 25, Dylan Kerler, co-founder and CTO of Pump.fun, stated on social media, “No funds from Pump.fun have been trapped, nor have we participated in the transactions between CEX and Circle as alleged by analysts. In fact, what happened was Pump's financial management behavior: the USDC from the PUMP ICO was transferred to different Wallets so that the company's operational funds could be reinvested in the business. Pump has never directly collaborated with the USDC issuer Circle.” Earlier reports indicated that crypto analysts suggested Pump.fun had recently “withdrawn” over 400 million USD, and the official Twitter account had not posted any updates for over a week.

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PUMP3.99%
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