Pump.fun co-founder denies "cashing out 400 millions USD," claims fund transfers are company treasury management operations

Jinse Finance reported that in response to Lookonchain's news that "Pump.fun project team allegedly cashed out over $400 million within a week," Pump.fun co-founder and CTO Dylan Kerler responded on social media, stating that the company has not cashed out any funds nor participated in any so-called transactions with a certain exchange or Circle. Dylan Kerler explained that the related fund transfers were part of Pump.fun's fund management operations, moving USDC obtained from the PUMP ICO to different wallets so that the company can reinvest operating funds into business development.