Trader kimchi Drops Pump.fun From Bio After Possible $6.25 Million Token Payment

Crypto trader kimchi removed Pump.fun from his social media bio just two days after promoting the memecoin launchpad, Lookonchain reported. During that time, kimchi may have received 1.35 billion PUMP tokens, worth about $6.25 million, as a marketing payment. Pump.fun’s metrics weakened over the same two days. Daily revenue fell 16% from $1.61 million to $1.35 million, and active addresses dropped 11% from 178,539 to 159,492. Neither kimchi nor Pump.fun has confirmed the payment. The episode adds to questions over paid influencer promotions in crypto, where disclosures are often missing and token rewards can be large.

Source: Coinpedia