Solana buyback worth $19.5 million carried out by Pump.fun in response to token price drop
In the ever-evolving world of cryptocurrency, the past week has been a whirlwind of activity. Here's a roundup of some of the key events that made headlines.
Pump.fun, a notable player in the meme coin market, made a significant move by allocating 120,450 SOL, equivalent to $19.5 million, to acquire 3.07 billion PUMP tokens on September 20, 2025. This operation in the meme coin arena has led to significant market swings for PUMP and indirect effects on other Solana-based meme tokens. However, the PUMP tokens, now worth $8.2 million, have experienced a marked decrease in value since the buyback, a scenario analysts describe as "whale-driven price cycling."
In other news, the SEC approved universal listing standards for crypto spot ETFs, paving the way for a potential influx of new products. This decision comes amid a record 92 cryptocurrency ETF filings in the U.S., with the industry eagerly awaiting the SEC's decision. DTCC listed new crypto ETFs including Fidelity Solana, adding to the growing list of digital asset ETFs available to investors.
The Federal Reserve made headlines with its first rate cut of 2025, aiming to mitigate shifting economic risks. Meanwhile, Yellen is considering rate hikes amid Trump's inflation concerns, indicating a potential shift in monetary policy.
Elsewhere, Bitcoin supply on exchanges hit a seven-year low, a sign of increased hodling by investors. The SEC held a cryptocurrency roundtable on financial surveillance and privacy, highlighting the ongoing efforts to ensure the security and integrity of the digital asset market.
Notable acquisitions included Next Technology's 200-for-1 reverse stock split and Forward Industries' major SOL acquisition, boosting Solana's treasury. Solana, currently priced at $188.80, holds a market capitalization of $101.63 billion, with its price changing by 5.33% within 24 hours and surging by 31.17% over the last 30 days.
In the startup scene, Titan secured a $7 million seed round for its DEX aggregator, while Gemini's IPO sparks debate on Bitcoin's future as Gold 2.0. John Kojo Kumi, a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem, shared insights on these matters, highlighting inherent risks in meme coin markets.
The week also saw the launch of Elon Musk's AI-driven software company, Macrohard, and the announcement of Wormhole's counter to LayerZero's $110M Stargate bid. Origin Summit announced Wave 3 with Animation Powerhouse Maggie Kang joining the programming lineup, and Morpheus Decentralized AI Marketplace expanded staking to USDC, USDT, and WBTC via Aave DeFi integration.
Lastly, Trump appealed a tariff ruling and sought Supreme Court intervention, adding another layer of complexity to the economic landscape. As always, the world of cryptocurrency promises to keep us on our toes.
