Curve Finance founder Michael Egorov criticizes Pump.fun as a scam casino amid concerns over meme coin quality and livestream moderation issues.
Macro & Markets ·
Michael Egorov of Curve Finance has characterized Pump.fun, the Solana-based token launchpad, as a platform rife with problematic schemes. The criticism reflects broader concerns about token quality on the platform, though Pump.fun's co-founder countered that the platform simply enables user choice and that meme coin activity would migrate elsewhere in its absence. The launchpad halted its livestream feature in late 2024 after users conducted disturbing stunts tied to token prices, including threats of self-harm contingent on price targets, before restarting with stricter moderation in April 2025.
Despite reputational strain, Pump.fun has become a revenue powerhouse, generating over $100 million in 2025. Analysis has revealed troubling patterns: a May report found 98.6% of tokens examined exhibited pump-and-dump or rug-pull characteristics, and a separate CoinGecko study of roughly 18.67 million tokens found more than 68% recorded their final trade on launch day.
What remains unclear is whether enforcement actions, including a proposed class-action lawsuit alleging unregistered securities offerings, will gain traction or materially change platform behavior.