Kraken’s Hilarious PUMP Token Airdrop: Free Money or Just a Glitch?

by
  • Kraken to airdrop free PUMP tokens after system overload blocks buyers.
  • Users will get PUMP tokens automatically with no action needed.
  • Kraken’s buyback may cost more as PUMP price trades above sale rate.

Kraken, a major cryptocurrency exchange, has decided to give away free PUMP tokens to some of its users who missed out on the recent PUMP token sale due to a system overload. Arjun Sethi, Kraken’s co-CEO, shared this update on the X account, and we can’t help but wonder if this is a generous gesture or just a hilarious glitch in the matrix.

Kraken Promises Free PUMP Tokens: A Gift or a Glitch? 🎁

According to Sethi, the PUMP sale was completed in less than sixty seconds, and the supply couldn’t meet the demand. A lot of people who came early in time attempted to purchase tokens but were unable to complete their orders due to system problems. Kraken verified its on-site order histories and user activity to identify the affected party.

Kraken has not yet indicated the precise number of users who will receive the airdrop, but the global head of consumer business at the company said they are making a final list. They will shortly email affected users with additional details.

Individuals do not require any additional action to claim their PUMP tokens, as the automatic airdrop will be provided. Kraken will purchase PUMP tokens on the secondary market and send them to users free of charge. At the moment, the price of the PUMP token is approximately $0.0064, which is above the price of public sale, which is $0.004. This means that the users who receive the free tokens can even receive them at a higher price, which is great news for those who have been waiting since they did not place their orders on time.

Kraken is not the only one that had issues with the PUMP sale. Other exchanges were not doing well either. Bybit apologized to its users since most individuals were unable to make orders during the sale. Bybit initially accused Pump.fun, the company behind the PUMP token, of the problems but later amended its statement.

Kraken’s Free Airdrop May Push Other Exchanges to Follow: A Trend or a One-Time Thing? 🤔

In addition to Kraken and Bybit, the PUMP sale occurred on Bitget, MEXC, KuCoin, and Gate. None of them has reported about airdropping tokens like Kraken. Bybit has assured of another update in the near future.

The airdrop means Kraken must buy PUMP tokens from the open market. At this point, the token price of around $0.0067 is indicated by Hyperliquid, a perpetual marketplace. This high price is even above the original selling price, which implies that Kraken can allocate more money to honor its commitment and impress its customers.

The token sale on Pump.fun brought approximately $450 million to Solana blockchain. PUMP tokens are yet to be sold off completely. These will trade on exchanges such as Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate.

Most users have complained during the sale, with others claiming that they attempted to purchase tokens in a few seconds but failed to do so. Bybit has already apologized and claims to have further information soon.

Ultimately, the fact that Kraken had decided to airdrop PUMP tokens can only indicate that the company is interested in taking its users under its wing. Despite the technical issues that occurred, the relocation of Kraken may restore confidence, which will be closely followed by other exchanges. They could also do the same in case they encounter the same issues in the future.

In the meantime, users only have to wait and get the email of Kraken. They are not required to do anything further. Kraken assures that it will be automatic and free. This is a relief to some buyers who did not get it the first time.

Read More

2025-07-13 23:10