Solana-based DEX Raydium has cumulatively spent $190 million to repurchase 69 million RAY, the project noted.
Onchain data shows Pump.fun is using fee income to buy back PUMP tokens in what may be part of a revenue sharing program.
Pump.fun offered 12.5% of its total token supply as part of a public sale on Saturday, slightly lower than the 15% initially reserved for the sale.
The suspension has sparked considerable speculation on X, some of which concerns potential regulatory involvement.
Pump.fun is allegedly considering a revenue-sharing mechanism for its native PUMP token, according to two sources familiar with the matter.
Solana's top DEX Raydium has reponsed to Pump.fun's AMM launch by fielding a token creation terminal dubbed "LaunchLab."
Despite the current downturn, Pump.fun's overall impact since its January 2024 launch remains remarkable.
Pump.fun, a token creation platform, is apparently testing an AMM feature, which may reduce its reliance on Raydium’s infrastructure for trading.
Pump.fun users can buy, create tokens for free and manage their digital portfolio in the platform's new iOS and Android app.
Burwick and Wolf Popper claimed that Pump.fun chose not to remove meme tokens made to intimidate their clients.
Plaintiffs said in the filing that pump.fun's operations are inherently a new kind of Ponzi and pump-and-dump schemes.
The launch of the Vine memecoin helped propel Pump.fun to break its single-day revenue record, though competitors may pose a growing threat.
Burwick claimed that the platform collected “hundreds of millions” of dollars in fees while it displayed anti-social acts.
The United Kingdom’s financial watchdog has blocked Pump.fun following a warning that the firm is not authorized in the country.
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