Pump.fun Just Raised $600M. What Does This Mean for DeFi, Solana & Social Media? - Ep. 868
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What I think of pump is is that they're pursuing financial entertainment, and financial entertainment is fundamentally very different than what most people are doing on TikTok or on Facebook. I do think it's much more it's something that Gen Z is much more tuned into than previous generations. And so I can see that this thing could become really big. But the idea that it would kill TikTok, not really, but could it become as big or comparable to something like TikTok? I I can I can see that's right?
Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin. We love featuring quotes from listeners on the show. Today, we have some comments responding to my recent episode with Brandon Millman, CEO and cofounder of Phantom, on why Phantom chose to launch perps on hyperliquid instead of Solana. On x, Kefa said, fascinating pivot by Fantom and a bold statement on where crypto UX is heading. Choosing Hyperliquid over Solana native DEXs says a lot about current infrastructure trade offs. And on YouTube, wants to comment seventy ninety two wrote, hy
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Ludden is a leading platform for Bitcoin backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin, issuing loans since 2018 and earning over 1,000 Trustpilot reviews. Learn more at ledin.io. And today's topic is the pump fund ICO. Here to discuss are Haseeb Qureshi, managing partner of Dragonfly, and Joe McCann, founder, CEO, and CIO of Asymmetric. Welcome, miss Heap and Joe. Hey.
Thanks for having me. Thanks for having us.
So everybody knows what happened this past weekend. There had been news that leaked earlier, you know, like a month ago, but but but last Wednesday, PumpFund finally officially announced its ICO. And the trailer front was pretty slick. It was very pump funny, very on brand, very Zoomer ish. And they tweeted, our plan is to kill Facebook, TikTok, and Twitch on Solana. And then they said, Pump will grow the pump dot fund ecosystem by delivering value to its community and incentivizing the ecosystem that continues helping the platform succeed. So they said the token would offer things like fee re
talked about this, I think, on Bits and Bits a while ago or some other podcast where it's like, leave it up to the crypto industry to completely reinvent the word revenue into extraction. Right? Like like, pumped up fun is a company that's meant to make money, and they built a killer app where they were generating revenue. Now people use that to potentially do nefarious things, and people use all kinds of stuff to do nefarious things and thus the extraction. And so the extractive narrative really picked up when meme coin started to go to zero. When they were ripping, no one talked about extrac
So there are three big things that jump out at me about this story that I think are worth going into. The first is the fact that, like like
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