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3d ago

Pump.fun Buys Padre, Ends Token Utility as PADRE Plunges and PUMP Rises

Pump.fun frames the deal as a push to integrate a pro multichain terminal to upgrade trading tools.

Pump.fun acquires trading terminal Padre
Padre token dumps after pump.fun acquires trading terminal
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Overview

  • Pump.fun confirmed that PADRE "will no longer have utility" with no further plans, and the token fell roughly 76–80% within hours.
  • PUMP climbed about 10–12% following the announcement, with reports citing a move to around $0.0043 over 24 hours.
  • Padre will keep operating across Ethereum, Solana, BNB Chain and Base, with planned improvements to user experience, speed, data and trading incentives.
  • Co-founder Alon Cohen said acquiring a trading terminal fits the platform’s goal to tokenize high-potential opportunities and match where trading volumes concentrate.
  • Community members accused Pump.fun of a rug pull and urged remedies like buyouts or airdrops, and the company has not reversed the utility decision.