The Madcap Rise of Memecoin Factory Pump.Fun

Pump.Fun, a platform for launching memecoins, has become one of the fastest-growing crypto businesses, and cofounder Noah Tweedale says the team wants to build something that lasts. The article reports that third parties have said the platform brought in more than $350 million in revenue over its first 12 months through a 1 percent cut of trades, and that more than 5.5 million unique memecoins have been published on it. Pump.Fun has also faced a former employee's alleged theft of nearly $2 million in escrow funds, soft rug pulls, and a UK Financial Conduct Authority warning that led it to block UK residents.