Pump.fun Acquires Padre Trading Terminal, Crashing Its Token 80%

Meme coin launchpad Pump.fun has acquired Padre, an advanced multichain trading terminal, as part of its strategy to expand its professional retail user base and "tokenize the world's highest-potential opportunities." However, the acquisition immediately led to the effective shuttering of Padre's preexisting token, PADRE, which lost approximately 80% of its value as Pump.fun announced it would no longer have utility. This decision caused significant community backlash, with some users accusing Pump.fun of performing a rug pull. Despite this controversy, the article notes that Pump.fun has a history of facing criticism, including accusations of enabling market manipulation and platforming profane tokens, suggesting this incident might be a minor setback.

(Source：BeInCrypto)