Pump.fun Foundation Holds Nearly $2 Billion in Reserves, No Solana
JOON HYOUNG LEE
Summary
- Co-founder Noah Tweedale said the Pump Foundation holds about $2 billion in reserve assets.
- He said the Pump Foundation’s funds were built from its initial coin offering (ICO) and revenue generated by the platform.
- He said the Pump Foundation’s reserve assets do not include Solana (SOL) and are made up mostly of stablecoins and other assets.
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Pump.fun’s foundation holds reserve assets of nearly $2 billion, according to Wu Blockchain.
Pump.fun co-founder Noah Tweedale said in a recent interview that the Pump Foundation has about $2 billion in reserves, Wu Blockchain reported on August 20.
The assets are managed by the Pump Foundation and are separate from those of Baton Corporation, the UK-based developer of Pump.fun.
The foundation’s funds were built mainly from its initial coin offering, or ICO, and revenue generated by the platform.
The reserve assets do not include Solana and consist mostly of stablecoins and other assets.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul