The blockchain analysis company Bubblemaps has linked the controversial meme-coin insider Hayden Davis to one of the largest private allocations of Pump.fun's PUMP token.
The company discovered that a wallet belonging to Davis invested 50 million USDC in the sale before the launch and received 12.5 billion PUMP tokens at the start. These tokens were worth about 73 million USD at that time.
How a top insider withdrew millions of USD from Pump.fun
But the wallet quickly moved about 80% of the tokens to centralized exchanges within a few days after the launch.
The tokens that remained were gradually sold over time. Bubblemaps estimates that Davis earned about 15 million USD in profit from the deal.
This discovery shows that Davis was not only a trader in the Pump.fun ecosystem but also one of the largest early institutional investors.
His allocation made him the second-largest private buyer of PUMP-token. Investors in private sales often receive discounted prices, giving them an edge over regular buyers.
Therefore, Davis likely secured his profits early, while smaller investors faced uncertainty later. PUMP-token initially surged after its ICO in July 2025 but has now fallen around 75% from its peak value. This resembles the patterns of the meme-coin market where insiders often sell early.
At the same time, Davis already has a controversial reputation in the crypto industry. He is the CEO of Kelsier Ventures, a crypto company linked to several meme-coin launches and scandals.
He became known through his role in LIBRA-token, which rose to over 4 billion USD in market value after marketing by Argentina's president Javier Milei but then crashed in just a few hours.
Authorities later froze wallets and assets linked to Davis during fraud investigations. Prosecutors in Argentina even requested an Interpol Red Notice as they feared he might flee.
Additionally, Davis has admitted that he helped launch several celebrity-backed tokens, including MELANIA and others linked to political marketing.
Blockchain investigators have linked his wallets to repeated patterns of early insider allocations and quick sales following launch hype.
Now, Bubblemaps results show that Davis also acted as a major insider investor in Pump.fun itself. This expands his role from creator of meme-coins to a so-called launch platform coin.
In summary, this case points to lingering questions surrounding insider access and profit withdrawals during crypto token launches.
Authorities and investors continue to scrutinize how private allocations affect the market long after the worst hype has subsided.
