Solana-Based Meme Coin Factory Banned in UK
12/06/2024 23:15
Pump.fun has been reportedly banned in the UK now that is no longer fun
Pump.fun has been reportedly banned in the UK now that is no longer fun
Odious Solana-based meme coin factory Pump.fun has been reportedly banned in the U.K.
Its website now says that the UK is a "restricted jurisdiction."
Pump.fun gained a lot of prominence earlier this year, allowing virtually anyone to generate a token with a few clicks and a small fee. Its popularity has led to a new Cambrian explosion of new tokens.
In early June, it managed to surpass Ethereum by daily revenue. In October, Pump.fun topped 1 million SOL in total fees.
The total number of tokens launched on the platform has now surpassed.
Pump.fun recently attracted renewed attention on social media because of its in-built livestream feature that made it possible for some incredibly desperate users to stream extremely disturbing content to promote their tokens.
The livestream feature, which has resulted in some revolting and nauseating promotional stunts, attracted strong backlash within the cryptocurrency community, with many members speculating about when the platform will be inevitably banned.
Ethereum proponent Eric Conner (@econoar) argues that "it's only the beginning" of nation-states targeting chains. "Soon you will all understand the value of true decentralization and why Ethereum makes it a priority," he added.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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