The Madcap Rise of Memecoin Factory Pump.Fun

Pump Fun is a platform for launching memecoins, a type of crypto coin whose value rises and falls in line with the popularity of the memes it references.

The platform went live in January 2024 and has been reported to have brought in more than $350 million in revenue through a 1 percent cut of trades.

The three Pump. Fun cofounders have attempted to keep their identities a secret.

Pump.Fun is estimated to be on track to make more than $1 billion in revenue in 2025 .

The rise of the memecoin market was catalyzed by a financial nihilism taking hold among younger people.

The vast majority of memecoins launched through Pump. Fun wind up nearly worthless, but the chance at outsized returns is irresistible to younger investors.

Pump.Fun suspended its popular livestreaming feature after a groundswell of criticism.

Regulators have awoken regulators to the memecoin phenomenon, which could create new compliance headaches for the platform.

Pump. Fun declined to comment on the prospect that memecobin trading could be regulated as gambling.