pump.fun is starting a buyback of PUMP, funded by fee revenue.

BlockBeats News, July 16th, according to EmberCN monitoring, pump.fun, after the coin issuance, started to buy back PUMP with the transaction fee income instead of continuing to directly transfer it to Kraken for sale as before:

In the past 7 hours, they have transferred the transaction fee income of 187,770 SOL (approximately $30.53 million) to the address 3vkp...3WTi, and then purchased PUMP with it. They then transferred the purchased PUMP to the address G8Cc...kqjm for storage.

Currently, they have already used 111,953 SOL (approximately $18.34 million) to purchase 3.04 billion PUMP tokens at an average price of $0.006.