News View Non-AMP

Pump.fun’s Memecoin Empire Crumbles Amid Scandals and Regulation

Published by
Nidhi Kolhapur

Pump.fun, a social media favourite platform for creating memecoins, is facing a sharp downturn. Daily token creations have nosedived from a peak of 69,000 to just 33,000, while active users have plummeted by 38%, dropping from 261,000 to 161,000. As per local reports, these declines follow a string of controversies and a significant setback: the UK’s Financial Conduct Authority banned the platform, citing regulatory concerns.

The platform, popular for its easy token creation process, became notorious for its lack of oversight. Users could remain anonymous, leading to problematic and offensive content, including racist tokens and even staged stunts like a fake suicide that caused public outrage. The platform’s decision to disable its live-streaming feature—following the backlash—only exacerbated its troubles, slashing its revenue by a third. Before the ban, Polymarket reflected a growing belief that the feature’s days were numbered, with predictions giving it just a 22% chance of surviving the week. By Monday evening, Pump.fun responded to the pressure and officially disabled the live stream functionality. However, it was too late to react as the UK officially banned the platform today. 

What Happened?

The controversial live streaming embedded directly into coin listing pages, became an instant hit as it allowed developers to promote their tokens live. One standout moment was when a teenager showcased his token and earned thousands of dollars, causing a trading frenzy as others rushed to buy the coin, pushing its value even higher.

Pump.fun had been a key driver of crypto attention earlier this year, minting millionaires and boosting Solana’s user activity to record highs. However, with declining user interest, falling revenues, and mounting scrutiny, its future as a leader in the memecoin space is now uncertain.

Pump.fun’s Massive SOL Moves Spark Attention

In other news, Lookonchain revealed that Pump.fun recently deposited 109,587 SOL (worth $24.3 million) to Kraken, adding to its extensive transaction history. The platform has generated a total revenue of 1,661,078 SOL ($362 million), of which 1,472,829 SOL ($289.5 million) has been sold on decentralized exchanges and deposited to Kraken. After suffering massive losses with the ban, this highlights Pump.fun’s massive revenue streams and ongoing efforts to liquidate its SOL holdings, signalling its dominant position in the memecoin market.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Utility Gems Before the Rise: Why Ruvi AI (RUVI) Could Be the Best Ripple (XRP) Alternative

Ripple (XRP) has long been celebrated as a utility-focused cryptocurrency, particularly for pioneering efficient cross-border…

June 5, 2025

Top AI & Big Data Projects to Consider in Q3 2025: LINK, ICP, NEAR, LPT & INJ

Artificial Intelligence (AI) and Big Data are transforming cryptocurrency by providing tools for analysis, prediction,…

June 5, 2025

Is Ozak AI the Next Altcoin Superstar After Bitcoin and Ethereum?

Cryptocurrency market evolves, investors constantly seek the next breakout project—one that offers real-world utility, disruptive…

June 5, 2025

Why Pi Network Binance Listing Didn’t Happen After Community Vote?

Despite Pi Network securing 86.8% support in Binance’s February 2025 vote to list, Pi Coin…

June 5, 2025

3 Top Cryptos For Generational Wealth in 2025

Crafting generational wealth in 2025 demands sharp focu on the best cryptos to buy now.…

June 5, 2025

Solana’s $500M Reserve Sparks Altcoin Frenzy: Why Kaanch Could Be the Next 100x Gem

The announcement of a $500 million convertible note deal by Classover Holdings to establish a…

June 5, 2025