Fitell Purchases 216.8M PUMP Tokens Worth $1.5M to Expand Digital Treasury

Fitell confirmed purchasing 216.8 million Pump.fun tokens worth $1.5 million, marking its first direct treasury allocation in Solana’s ecosystem.

CEO Sam Lu stated the Company moved swiftly to execution, focusing on diversifying its corporate treasury and expanding within Solana’s blockchain network.

Despite the PUMP acquisition, Fitell’s stock closed at $5.20 on October 2, recording a 13.62% daily drop and broader declines.

Fitell Corporation (NASDAQ: FTEL) announced the acquisition of 216.8 million Pump.fun (PUMP) tokens worth $1.5 million, strengthening its digital asset treasury strategy. The move reflects the Company’s entry into Solana’s expanding ecosystem.

Strategic Move into PUMP

Fitell confirmed on October 1, 2025, that it purchased approximately 216.8 million PUMP tokens. The transaction marked its first direct acquisition of Pump.fun’s native token. The Company allocated the tokens to its corporate treasury.

Chief Executive Officer Sam Lu said the Company acted quickly after reaching its decision. He noted, “We again moved promptly from decision to execution.” The statement reflected Fitell’s focused approach to digital asset allocation.

Sam Lu also emphasized the rationale behind the purchase. He explained, “We are deepening our participation in Solana’s growth story, while diversifying our digital asset treasury to position us to capture long-term growth opportunities for our stakeholders.”

Participation in Solana Ecosystem

Fitell’s acquisition directly linked its treasury operations with the Pump.fun platform on Solana. Pump.fun operates as a launchpad for projects within the Solana ecosystem, supported by its native token PUMP.

The decision to purchase a large volume of tokens confirmed the Company’s growing alignment with Solana. Management indicated that treasury diversification was part of a broader strategy to integrate with leading blockchain networks.

Fitell also clarified that future treasury actions would follow similar principles. Updates on additional allocations or purchases will be provided periodically as part of its corporate reporting.

Market Reaction and Share Performance

Despite the high-profile token purchase, Fitell’s stock price came under pressure. Shares of FTEL closed at $5.32 on October 2, marking a 11.62% decline in one trading day.

The weakness extended over a longer stretch of sessions. Records indicated that the stock lost nearly 15% across the past five trading days. This added pressure on investors assessing Fitell’s new strategy.

Fitell confirmed that its corporate treasury diversification remains ongoing. The Company reiterated its long-term commitment to digital asset allocation, even as its stock performance faced short-term declines.

The post Fitell Purchases 216.8M PUMP Tokens Worth $1.5M to Expand Digital Treasury appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.