{"id":18183,"date":"2025-11-25T18:30:40","date_gmt":"2025-11-25T18:30:40","guid":{"rendered":"https:\/\/www.coinspeaker.com\/fr\/?p=18183"},"modified":"2025-11-25T17:17:02","modified_gmt":"2025-11-25T17:17:02","slug":"pumpfun-scandale-436m","status":"publish","type":"post","link":"https:\/\/www.coinspeaker.com\/fr\/pumpfun-scandale-436m\/","title":{"rendered":"Pump.fun d\u00e9ment avoir cash-out 436M$"},"content":{"rendered":"<h2>436 M$ vers Kraken, \u00ab\u00a0d\u00e9sinformation compl\u00e8te\u00a0\u00bb selon le cofondateur<\/h2>\n<p>Tout est parti d&rsquo;un rapport de Lookonchain. L&rsquo;outil d&rsquo;analyse onchain a rep\u00e9r\u00e9, depuis la mi-octobre, une s\u00e9rie de transferts de wallets associ\u00e9s \u00e0 Pump.fun vers l&rsquo;exchange Kraken, pour un total de 436 millions de dollars en USDC.<\/p>\n<p>Vu le contexte de crash des memecoins et de revenus en chute, beaucoup ont imm\u00e9diatement interpr\u00e9t\u00e9 ces flux comme un gigantesque cash-out aux d\u00e9pens du march\u00e9.<\/p>\n<p>Face \u00e0 la mont\u00e9e de la pol\u00e9mique, le cofondateur Sapijiju a pris la parole. Selon lui, la lecture de Lookonchain rel\u00e8ve de la \u00ab\u00a0d\u00e9sinformation compl\u00e8te\u00a0\u00bb.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"474\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">complete misinformation from <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/twitter.com\/lookonchain?ref_src=twsrc%5Etfw\">@lookonchain<\/a> again. $0 have been cashed out &#8211; we&#39;re not involved in the transactions between Kraken and Circle that you&#39;re alleging us to be a part of.<\/p>\n<p>What&#39;s happening is a part of pump&#39;s treasury management, where USDC from the <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/twitter.com\/search?q=%24PUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PUMP<\/a> ICO has been\u2026 <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/t.co\/qd6GUnIxKH\">https:\/\/t.co\/qd6GUnIxKH<\/a><\/p>\n<p>&mdash; Sapijiju (@sapijiju) <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/twitter.com\/sapijiju\/status\/1992940009230610891?ref_src=twsrc%5Etfw\">November 24, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Il affirme qu&rsquo;aucun des USDC concern\u00e9s n&rsquo;a \u00e9t\u00e9 vendu et qu&rsquo;il s&rsquo;agit uniquement de fonds issus de l&rsquo;ICO du token PUMP, d\u00e9plac\u00e9s entre wallets internes dans le cadre d&rsquo;une gestion de tr\u00e9sorerie classique.<\/p>\n<p>\u00ab\u00a0Ce qui se passe fait partie de la gestion de tr\u00e9sorerie de Pump, o\u00f9 les USDC de l&rsquo;ICO de PUMP sont transf\u00e9r\u00e9s dans diff\u00e9rents wallets\u00a0\u00bb, explique-t-il, tout en pr\u00e9cisant que <a href=\"https:\/\/cointelegraph.com\/news\/pump-fun-cofounder-denies-436m-cash-out-treasury-management\" target=\"_blank\" rel=\"noopener\">Pump.fun \u00ab\u00a0n&rsquo;a jamais travaill\u00e9 directement avec Circle\u00a0\u00bb<\/a>.<\/p>\n<h2>Revenus en baisse et tr\u00e9sor toujours bien rempli<\/h2>\n<p>Si les transferts vers Kraken choquent, c&rsquo;est aussi parce qu&rsquo;ils interviennent \u00e0 un moment o\u00f9 le mod\u00e8le <a href=\"https:\/\/coinmarketcap.com\/currencies\/pump-fun\/\" target=\"_blank\" rel=\"\">Pump.fun<\/a> semble souffrir de la fin de l&rsquo;euphorie memecoins.<\/p>\n<p>D&rsquo;apr\u00e8s DefiLlama, les revenus mensuels de la plateforme sont tomb\u00e9s \u00e0 27,3 millions de dollars en novembre, contre pr\u00e8s de 59 millions en septembre. C&rsquo;est la premi\u00e8re fois depuis juillet que le chiffre passe sous les 40 millions.<\/p>\n<p>Malgr\u00e9 cette contraction, les donn\u00e9es onchain brossent l&rsquo;image d&rsquo;un projet loin d&rsquo;\u00eatre \u00e0 sec. Les plateformes Arkham, DefiLlama et Lookonchain convergent sur un constat : <a rel=\"noopener noreferrer\" target=\"_blank\" rel=\"noopener nofollow sponsored\" href=\"https:\/\/coinspeaker.com\/fr\/memecoin-pumpfun-retrait-436m\/\">les wallets \u00e9tiquet\u00e9s Pump.fun<\/a> d\u00e9tiennent encore plus de 855 millions de dollars en stablecoins et environ 211 millions de dollars en SOL.<\/p>\n<p>Vu sous cet angle, les 436 millions d\u00e9plac\u00e9s repr\u00e9sentent un gros morceau, mais pas la totalit\u00e9 de la tr\u00e9sorerie. Pour certains, cela renforce la th\u00e8se de Sapijiju : une \u00e9quipe qui veut organiser, segmenter et potentiellement placer ses r\u00e9serves plut\u00f4t que vider la caisse.<\/p>\n<p>Pour d&rsquo;autres, c&rsquo;est au contraire la preuve qu&rsquo;il reste largement de quoi continuer \u00e0 vendre si l&rsquo;\u00e9quipe le souhaite, ce qui laisse planer une <strong>menace de pression vendeuse continue<\/strong>.<\/p>\n<h2>Entre soup\u00e7ons de dump et d\u00e9fense du droit \u00e0 g\u00e9rer sa tr\u00e9sorerie<\/h2>\n<p>Sans surprise, la r\u00e9action de la communaut\u00e9 est rest\u00e9e tr\u00e8s partag\u00e9e. Une partie des utilisateurs a jug\u00e9 l&rsquo;explication du cofondateur maladroite, voire contradictoire.<\/p>\n<p>Certains ont point\u00e9 le fait qu&rsquo;il affirme ne pas \u00eatre impliqu\u00e9 dans les transferts tout en expliquant qu&rsquo;il s&rsquo;agit d&rsquo;une gestion de tr\u00e9sorerie pilot\u00e9e par le projet. D&rsquo;autres y voient surtout une tentative de calmer les esprits alors que le narratif autour de PUMP se d\u00e9grade.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-18227\" src=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28.jpg\" alt=\"\" width=\"2318\" height=\"1144\" srcset=\"https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28.jpg 2318w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28-300x148.jpg 300w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28-1024x505.jpg 1024w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28-768x379.jpg 768w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28-130x63.jpg 130w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28-1536x758.jpg 1536w, https:\/\/www.coinspeaker.com\/fr\/wp-content\/uploads\/sites\/6\/2025\/11\/img-2025-11-25-a-18.13.28-2048x1011.jpg 2048w\" sizes=\"auto, (max-width: 2318px) 100vw, 2318px\" \/><\/p>\n<p>Parall\u00e8lement, plusieurs voix rappellent qu&rsquo;un projet a le droit de d\u00e9placer et d&rsquo;utiliser ses revenus et le produit de son ICO comme il l&rsquo;entend. Pour eux, d\u00e9placer des USDC apr\u00e8s une lev\u00e9e de fonds est exactement ce que font la plupart des \u00e9quipes s\u00e9rieuses.<\/p>\n<h2>PUMP sous son prix d&rsquo;ICO, confiance fragilis\u00e9e<\/h2>\n<p>Pendant que le d\u00e9bat fait rage sur X, le cours du token PUMP raconte autre chose : la confiance vacille.\u00a0Par rapport \u00e0 son sommet de septembre, proche de 0,0085 dollar, la chute approche les 70 %.<\/p>\n<p>Certains membres de la communaut\u00e9 accusent ouvertement le projet de mauvaise ex\u00e9cution et de \u00ab\u00a0manipulation de prix via les airdrops\u00a0\u00bb, estimant que le discours sur la tr\u00e9sorerie n&rsquo;efface pas la r\u00e9alit\u00e9 de la performance du token.<\/p>\n<p>D&rsquo;autres adoptent une lecture plus technique : ce genre de trajectoire est typique d&rsquo;un actif tr\u00e8s sp\u00e9culatif qui sort d&rsquo;une phase de mania, et les mouvements de tr\u00e9sorerie de l&rsquo;\u00e9quipe ne font qu&rsquo;ajouter une couche de nervosit\u00e9 \u00e0 une structure d\u00e9j\u00e0 fragile.<\/p>\n<p>Tant que Pump.fun ne publiera pas de donn\u00e9es plus d\u00e9taill\u00e9es sur ses r\u00e9serves et sur la mani\u00e8re dont l&rsquo;USDC de l&rsquo;ICO garantit l&rsquo;\u00e9cosyst\u00e8me, le doute continuera de flotter, quelle que soit la version officielle avanc\u00e9e par ses fondateurs.<\/p>\n<hr \/>\n<p>\u00c0 lire aussi :<\/p>\n<ul>\n<li><a href=\"https:\/\/www.coinspeaker.com\/fr\/guides\/acheter-pump-fun-token\/\">Comment Acheter Pump Fun Token ? Notre Tutoriel 2025<\/a><\/li>\n<li><a href=\"https:\/\/www.coinspeaker.com\/fr\/pump-fun-255-millions-24-heures\/\">Pump.fun : 2,55 millions $ en 24 heures, le boom crypto continue<\/a><\/li>\n<li><a href=\"https:\/\/www.coinspeaker.com\/fr\/guides\/memecoin\/\">Memecoin crypto : 6 projets m\u00e8me \u00e0 ne pas rater<\/a><\/li>\n<\/ul>\n<a class=\"infinscroll_next_page_link\" style=\"display:none\" href=\"https:\/\/www.coinspeaker.com\/fr\/metaplanet-130m-dette-bitcoin\/\" rel=\"prev\">next<\/a>","protected":false},"excerpt":{"rendered":"<p>Le lancement de PUMP devait incarner le bras arm\u00e9 de la folie memecoins sur Solana. Quelques semaines plus tard, le projet se retrouve oblig\u00e9 de justifier la fa\u00e7on dont il g\u00e8re plusieurs centaines de millions de dollars en stablecoins.<\/p>\n","protected":false},"author":200,"featured_media":18188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actu"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pump.fun d\u00e9ment avoir cash-out 436M$<\/title>\n<meta name=\"description\" content=\"Pump.fun rejette les accusations de cash-out de 436 M$, affirmant qu\u2019il s\u2019agissait d\u2019op\u00e9rations internes de gestion de tr\u00e9sorerie.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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