Latest news with #pumpfun
Coin Geek
5 days ago
- Business
- Coin Geek
The dangerous game of pump.fun
Homepage > News > Business > The dangerous game of In the fast-moving world of digital currency, platforms emerge at breakneck speed, promising innovation, empowerment, and financial inclusion. But some of these platforms, cloaked in memes and marketed as fun, hide a much darker reality. One of the most talked-about examples today is a token launch platform built on Solana. On the surface, it appears to democratize memecoin creation. In practice, it has become a hyper-efficient machine for pump-and-dump schemes, rewarding a small group of insiders while extracting wealth from impulsive speculators, many of whom are young, unprotected, and unaware of the dangers they face. lets anyone mint a token with minimal effort and trade it immediately through an automated price curve that rises with every new buyer. This encourages early speculation and viral promotion. Once the hype peaks, early buyers dump their holdings for profit, while those who buy late are left holding worthless tokens. It is a cycle that repeats around the clock, with new tokens constantly replacing the old in a never-ending churn of manufactured excitement and predictable collapse. The platform thrives on speed. Tokens can go viral and crash within minutes. There is no time for due diligence, no requirement for developers to offer utility or transparency, and no obligation to protect users. The only goal is momentum. Traders race to spot the next memecoin, often driven by group chats, anonymous tips, or influencer tweets. But this is not trading in the traditional sense. It is gambling, fast, addictive, and unforgiving. What makes especially dangerous is its appeal to young people. Crypto-savvy teens and college students, already immersed in meme culture and digital assets, are easily drawn to the platform's promise of quick gains and viral stardom. There are no age gates, no educational prompts, and no warnings about the risks involved. In many cases, users also lack awareness that they are engaging in a high-stakes financial game with mechanics similar to online casinos. The psychological toll is significant. The structure of plays directly into patterns of compulsive behavior. The excitement of small wins followed by steep losses reinforces a loop that can lead to real harm. Users report staying up through the night glued to charts, chasing losses with fresh deposits, and sinking deeper into financial and emotional distress. These behaviors mirror clinical signs of gambling addiction, and yet they are developing inside a platform that presents itself as a harmless playground. And while everyday users suffer, others thrive. A small group of insiders, fast-moving traders, token creators, and online influencers profit handsomely. Some users create dozens of tokens a day, front-running interest with bots or viral marketing tactics. Influencers with large followings can drive liquidity into a coin they launched minutes before, cashing out while their followers still buy in. Meanwhile, the platform earns a fee from every transaction, regardless of the outcome. The incentives are aligned not with community, innovation, or education, but with volume and churn. reflects a broader tension in crypto, the gap between permissionless innovation and ethical responsibility. The platform does not break laws, at least not in the traditional sense. But it is building an ecosystem that mimics the worst aspects of unregulated gambling and then marketing it as empowerment. Crypto can be a tool for good. It can offer new ownership models, financial inclusion, and decentralized governance. But platforms like this question what kind of future we are building and for whom. It is time for the crypto community to speak honestly about what is happening here. Regulation may eventually catch up, but the damage is real. If the Web3 space wants to grow into something lasting and respected, it must prioritize integrity over hype and responsibility over rapid growth. is not just a passing trend. It is a symptom of something deeper: a culture willing to accept exploitation as entertainment. That culture must change. Not because regulators say so, but because the people building the future of finance can and should do better. Watch: Reggie Middleton on DeFi, booms/busts & crypto regulation title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""> Memecoin Pump and Dump Solana Tokenization
Yahoo
26-05-2025
- Business
- Yahoo
Binance Square Starts Livestream for Traders, Taking on Other Social Media Platforms
Binance Square, the social network platform rolled out by crypto exchange Binance in October 2022, is launching a livestream product. The feature, Binance said, will provide experienced traders and content creators another means of engaging their audience. Livestreams should foster learning, increase engagement on the platform, and enhance users' market insights. Livestreaming is already a feature on large social media platforms such as X. Notably, the Solana-based token production protocol shut down its own livestreaming feature in November after some of its users performed pornographic or dangerous acts. It quietly revived the product in April with additional guardrails.
