Pump.fun Foundation Holds Nearly $2 Billion in Reserves, No Solana
Summary
- Noah Tweedale said the Pump Foundation holds about $2 billion in reserve assets.
- He said the assets are managed by the Pump Foundation separately from Baton Corporation, the U.K.-based developer of Pump.fun.
- He said the Pump Foundation's reserves were built from its ICO and platform revenue, and consist mostly of stablecoins and other assets, with no Solana.
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The foundation behind Solana-based memecoin issuance platform Pump.fun holds reserve assets of nearly $2 billion.
Wu Blockchain reported on Aug. 20 that Pump.fun co-founder Noah Tweedale said in a recent interview that the Pump Foundation holds about $2 billion in reserve assets.
The assets are managed by the Pump Foundation and are separate from those of Baton Corporation, the U.K.-based developer of Pump.fun.
The foundation built the reserves mainly through its initial coin offering, or ICO, and revenue generated by the platform.
The reserves do not include Solana and consist mostly of stablecoins and other assets.
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