Pump.fun’s rapid growth has brought massive revenue, but questions over token quality and platform behavior continue to follow the launchpad.
Curve Finance founder Michael Egorov has taken a swipe at Solana-based Pump.fun and criticized the platform’s role in the meme coin market.
His comments add to the scrutiny Pump.fun has faced as it has grown into one of the biggest venues for launching new meme coins.
Token Failures and Controversies
Egorov criticized Pump.fun and called it “a casino of scams called meme coins.” ClawPump co-founder Tomas Oliver, however, pushed back and asserted that the platform simply provides a service and users choose how to use it. Oliver added that meme coin activity would exist elsewhere if Pump.fun did not dominate the market.
The Solana-based launchpad has faced controversy before, particularly over the way its platform has been used.
In November 2024, its livestream feature drew heavy backlash after users began using it for extreme and disturbing stunts linked to their token prices. Some streams involved threats of self-harm, violence, and harm to family members. In one case, a user threatened to end their life if a token failed to reach a $25 million market cap. Another incident reportedly involved a couple using their child as part of a campaign to boost a token.
The backlash led Pump.fun to halt livestreams. The feature returned in April 2025, but with stricter moderation rules.
It also faced legal pressure during this period. A proposed class-action lawsuit accused Pump.fun of offering unregistered securities and alleged that it had collected nearly $500 million in fees. The case was brought by a trader who said he lost money on three tokens – FWOG, FRED, and GRIFFAIN.
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Growth Paradox
Concerns over the tokens themselves have also continued. A May 2025 report from blockchain analytics firm Solidus Labs found that 98.6% of Pump.fun tokens it analyzed showed characteristics of pump-and-dump schemes or rug pulls. More recently, a CoinGecko analysis of 18.67 million tokens found that more than 68% recorded their final trade on the same day they launched. Only 4.55% remained active for more than 90 days.
Despite this, the platform has also become a major source of revenue on Solana. In fact, it was among seven Solana applications that generated more than $100 million in revenue in 2025. According to the latest newsletter by pseudonymous Pump.fun co-founder Sapijiju, the launchpad surpassed Hyperliquid in revenue measured over 30 days.