The Madcap Rise of Memecoin Factory Pump.Fun

image via WIRED

January 15, 2025, 11:00 AM

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 by third parties to have brought in more than $350 million in revenue through a 1 percent cut of trades. The three Pump.Fun cofounders, who met in England, have attempted to keep their identities a secret. The vast majority of memecoins launched through Pump.Fun wind up nearly worthless, but the chance at outsized returns is irresistible to younger investors. Because of the platform's juvenile spirit, Pump.Fun is easily dismissed. But its performance puts it in rarefied company; Pump.Fun is estimated to be on track to make more than $1 billion in revenue in 2025.

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