Pump.fun Co-Founder Says Foundation Treasury Nears $2 Billion, Holds No SOL

The Pump Foundation holds close to $2 billion in treasury assets, Pump.fun co-founder Noah Tweedale said in an interview with Crypto Insider.

The foundation is separate from Baton Corporation, the UK-based development company responsible for building Pump.fun. Baton receives about $100 million annually to fund development, technology, and other operating expenses, according to Tweedale.

The foundation’s treasury is funded primarily by proceeds from its initial coin offering (ICO) and platform revenue.

Tweedale said the treasury does not hold SOL and consists mainly of stablecoins and other assets.

Source: Crypto Insider