The controversial Solana-based memecoin launchpad Pump.enjoyable has deposited $407 million price of SOL into the crypto change Kraken prior to now 12 months, based on the digital asset tracker Lookonchain.
Lookonchain additionally notes that Pump.enjoyable, which launched in January 2024, offered 264,373 SOL for $41.64 million price of the stablecoin USDC.
The memecoin launchpad has reportedly earned a complete of two.57M SOL price $588.6 million.
Pump.enjoyable goals to make it straightforward to launch cash with out having to seed liquidity.
The platform has garnered controversy: Earlier this month, the digital asset litigation agency Burwick Legislation introduced it deliberate to pursue authorized motion towards Pump.enjoyable on behalf of people that’ve invested within the launchpad’s memecoins.
“This announcement follows months of working alongside on a regular basis those who have misplaced important quantities of cash to memecoins, rugs, and unfulfilled guarantees.
Previously few months, pumpdotfun has collected a whole bunch of thousands and thousands of {dollars} in charges whereas illicit drug use, self-harm, racism, antisemitism, lewd acts, bestiality, violent and different delinquent acts had been displayed on the platform. The creator of this platform has chosen to stay nameless, regardless of acknowledging the significance of transparency in scaling and retail engagement, which raises severe issues about accountability.”
Pump.enjoyable continues to rake in large charges, together with a record-setting $15.38 million on January twenty fifth, based on the decentralized finance information aggregator DeFiLlama.
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