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

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.