Pump.fun Sells $741M in SOL After X Suspension – What’s Really?

Pump.fun Sells $741M in SOL After X Suspension – What’s Really Happening?

PumpFun (@pumpdotfun), a popular Solana-based meme token launch platform, was recently suspended from X — but they’ve been making major moves behind the scenes.

Since May 19, 2024, the platform has sold around 4.1 million SOL, worth nearly $741 million, at an average price of $180.

Here’s the full breakdown:
🔹 264,373 SOL sold for $41.64 million USDC at $158
🔹 3.84 million SOL, worth $699 million, sent to Kraken at $182

Why is Pump.fun selling so much?
Is this an exit strategy, or are they just managing risk?