Pump.fun’s $1 Billion ICO Has Caused Controversy. Can It Succeed? - Ep. 847
Episode publishedPodcast: UnchainedUnchained
Transcript preview
Preview only
About 40 to 50% of all volume on pump is routed through third party interfaces or bots. So what that means is that pump, the front end, is no longer the point of discovery for the pump ecosystem of of assets. And the the risk here is that the more this trend continues, potentially the less control pump has over its own destiny. Because if everyone starts trading on pump through third party interfaces and let's say one of the interfaces gets very large, well, what's stopping that interface from launching their own launchpad
note hype resource for all things crypto. I'm your host, Laura Shin. Do you wanna hear your comments on an episode of Unchained? Every episode we feature a few. Alex l Witt had this to say on x in response to my recent interview with Bitwise's Jeff Park. Without government spending and printing, US would be in a recurring recession, e g multiple quarters negative GDP growth. S and p 500 is just inflation hedge for all the money printing in the absence of actual growth. If you have thoughts on a recent episode or on the podcast overall, leave a comment on Apple Podcasts or in our video on YouTu
Nice to see you again.
On Tuesday, a next account called Next Fucking Thing broke the news that Pump Fund will be raising $1,000,000,000 via ICO at a $4,000,000,000 fully diluted valuation. They added some detail later saying this will happen across multiple centralized exchanges. There will also potentially be a 10% air drop to the community, and they thought it would happen by the end of the month, maybe even in the next two weeks. The community seemed to have what I perceive to be a largely negative reaction. For instance, Ansem tweeted, Pump Fund raising $1,000,000,000 at a $4,000,000,000 evaluation after Trump
I think meme coins have always been a lightning rod within this community, as far as, like, the past two years. And I think pump specifically has been a very polarizing topic as far as is it positive or negative for for crypto. And I remember even in 2024, people are wondering, okay. Is it sealing flows away from valuable projects? Is it positive if there are new people that are being onboarded to these blockchain rails that can maybe eventually go and pivot and try out new applications because they now have a Phantom wallet. They have money on the Phantom wallet, and they can go from there. A
Yeah. I did see that you had tweeted something about, like, casino users getting mad at the casino for making money and then trying to raise more money to build a bigger casino. But as you pointed out, like, people were saying, no. No. No. This is worse than a casino. Some of the responses, one was, they are not a casino. They are the people who are robbing people in a casino while they're playing. You guys are smoking crack if you think the way pump fund allowed insane farming, bottling, scamming is anywhere close to the level of what casinos do. And someone else tweeted, casinos have take ra
Yeah. Yeah. Yeah. Yeah. Yeah. So I I guess there's a couple of things I'll I'll answer there. The first one is on the ICO. So to put this in context, this will be the third largest ICO in history if they successfully complete it. Ice, EOS was about 4,200,000,000.0 that was done over the course of the year in 2018. There was a Telegram ICO. I think that was, like, 1,700,000,000.0. And, you know, next up would just be I mean, after that, there's a very steep drop off. I think maybe the third behind that is might be, like, Tezos at 233,000,000. So this is this is a huge a huge raise. I mean, in f
do you have kind of, like, what you think would be
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.