Pumpfun Controversy: Addictive Design Allegations & Declining Metrics
Multiple sources are piling on Pumpfun with allegations that the platform was deliberately designed to maximize addictive trading, an apparent insider deleted tweet, and data showing declining trading volumes and revenues.
What we know
An account on X alleges internal chats reveal Pumpfun 'was deliberately designed to maximize addictive trading and fee revenue,' calling for regulatory action. Another account on X shares a tracker that caught a deleted tweet from the another account on X account seemingly confirming insider knowledge. Concurrently, Pumpfun founder Alon is running a $2.5M squads trading competition, which another account on X frames sarcastically as 'creative ways to extract.' Metrics from another account on X show daily volume sliding to $408M (-10% day-on-day) and SOL market share dropping to 92%. Broad community sentiment calls for a boycott, with competing launchpads emerging to little enthusiasm.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.