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Interesting that PUMPFUN pioneered memecoin launches, but the way they run the business looks more like Cabal than an industry leader…
A few examples:
• They run an ICO, become one of the most successful projects in crypto, launch a buyback — and PUMP still dumps 80%, while HYPE rips hundreds of percent with the same kind of buyback.
• AXIOM (launches a successful terminal) → PUMP buys PADRE and rebrands it as Terminal;
• Raydium (successful DEX) → PUMP launches PumpSwap;
• FOMO (social trading) → PUMP adds social trading. One of the reasons PUMP started pumping was actually FOMO’s funding round at a $550M valuation.
• PONS, STONK (memcoins+stocks) → PumpFun launches stocks
PumpFun is META in the crypto world, and Alon is Zuckerberg.
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RU | BigLiquid | Pro Channel