Curve Finance founder Michael Egorov criticized Solana-based launchpad Pump.fun, calling it a casino of scams called meme coins. The platform has faced multiple controversies, including in November 2024 when its livestream feature was used for extreme and disturbing stunts linked to token prices, leading to its temporary suspension. A class-action lawsuit accused Pump.fun of offering unregistered securities and collecting nearly $500 million in fees. A Solidus Labs report found that 98.6% of analyzed tokens showed pump-and-dump or rug pull characteristics, while CoinGecko data showed that over 68% of tokens traded only on their launch day. Despite these controversies, the platform generated over $100 million in revenue in 2025 and surpassed Hyperliquid in 30-day revenue.
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