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Hassan Shittu

Journalist

Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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August 20, 2025

Solana’s leading meme coin launchpad, Pump.fun, has staged a dramatic comeback, posting one of its strongest weeks of 2025 and reclaiming dominance in the fiercely competitive meme coin market.

According to data from DeFiLlama, Pump.fun generated $13.48 million in revenue between August 11 and 17, marking its best weekly performance since February.

The surge represents nearly a 700% increase from the $1.72 million recorded in the first week of August, when the platform hit its lowest revenue levels since March 2024.

The rebound comes as the broader meme coin sector itself swung sharply, with market capitalization collapsing by $16 billion in early August before partially recovering.

Pump.fun Regains Dominance in Solana Meme Coin Market

Pump.fun’s resurgence is particularly notable after ceding ground to rival Solana-based launchpad LetsBonk in July.

For nearly a month, LetsBonk.fun led in daily trading volume and revenue, disrupting Pump.fun’s dominance in the ecosystem.

That streak broke in early August, when Pump.fun overtook its competitor across all major metrics, including tokens minted, daily volume, and revenue.

On August 6 alone, Pump.fun processed $144.5 million in graduation volume and $525 million in post-graduation trading activity, far eclipsing LetsBonk’s $34.6 million and $305 million, respectively.

Daily data further underscores the platform’s renewed momentum. In a single 24-hour period this week, Pump.fun users created more than 20,000 new tokens, generating nearly $129 million in trading volume and $1.22 million in fees.

By contrast, LetsBonk.fun launched just 338 tokens with $3.3 million in volume and $15,487 in fees during the same period. Pump.fun also saw over 124,000 active addresses, dwarfing its competitors and reaffirming its status as the primary launchpad for traders and creators in the Solana meme coin scene.

Despite the record-breaking weekly revenue, Pump.fun’s financial picture in 2025 remains mixed. Quarterly earnings have declined sharply, with revenue falling from $257.6 million in Q1 to just $133.1 million in Q2, signaling reduced transaction activity over the summer months.

Still, annualized metrics from Dune Analytics highlight strong underlying fundamentals: Pump.fun maintains $4.5 billion in monthly decentralized exchange volume, $367 million in projected annual revenue, and a market capitalization nearing $2 billion.

Its native token, PUMP, currently trades around $0.002963, which is a 2.9% surge in the last 24 hours, slightly recovering from a 25.9% drop from one week ago. Industry analysts say Pump.fun’s recovery reflects both platform-specific momentum and broader sentiment shifts in the meme coin market.

After plunging from $77.7 billion at the end of July to $62.1 billion on August 3, the sector’s market cap rebounded to $75 billion by mid-month before easing back to $70 billion.

At press time, meme coins collectively hold a market capitalization of about $66 billion.

Solana Launchpad Faces $5.5B Class Action Amid Expansion and Buybacks

Solana-based meme coin platform Pump.fun is facing a consolidated class action lawsuit in the Southern District of New York, alleging it operates an illegal “meme coin casino” that caused between $4 billion and $5.5 billion in losses to retail traders.

The suit targets Pump.fun’s operator, Baton Corporation, along with founders Alon Cohen, Dylan Kerler, Noah Bernhard, Hugo Tweedale, and executives from Solana Labs, the Solana Foundation, and Jito Labs.

Plaintiffs claim the defendants formed a “Pump Enterprise,” describing the platform as a racketeering scheme under the Racketeer Influenced and Corrupt Organizations Act (RICO).

According to the filing, Pump.fun acts as a “slot machine cabinet” where users deposit SOL for unpredictable token outcomes. The complaint highlights the absence of age checks or KYC screening, allowing minors to trade.

Despite legal challenges, Pump.fun continues to expand. On August 8, it launched the Glass Full Foundation (GFF), an initiative to provide liquidity support for selected projects, aiming to stabilize its fast-moving meme coin sector.

Earlier in the month, the platform introduced a public revenue dashboard and resumed buybacks of its $PUMP token. Between August 5 and 11, Pump.fun repurchased $8.4 million worth of tokens, nearly all of its revenue during that period.

To date, it has bought back more than $33 million worth of $PUMP, offsetting less than 1% of supply.

Pump.fun’s momentum has attracted attention from Solana Labs co-founder Anatoly Yakovenko, who said on X the platform “has a shot at building a global streaming platform.” He also noted that competition in crypto “never ends.”

Rival platform LetsBONK.fun is pursuing a similar strategy. On August 3, it allocated 440 SOL to token buybacks, followed by a $750,000 purchase of $USELESS tokens as part of a new strategic fund. It also pledged to direct 2% of revenue toward supporting leading community projects.

However, its ecosystem has faced setbacks, with market cap falling 20% in a day and its native token $BONK down more than 20% over the past week. Meanwhile, $USELESS, the top token on LetsBONK.fun, has surged nearly 28% in seven days after announcing multiple exchange listings, including Binance and Coinbase.

Jarett Dunn, former developer of Solana-based MemeCoin Platform Pump. funpleaded guilty to fraud by abuse of crime and transfer of criminal property. He admitted to stealing nearly $2 million in SOL from the project shortly after joining the team. Dan is now It’s being held in a London prison after violating bail terms.

He was detained for bail violations

Dan originally pleaded guilty in 2023, but he later tried to withdraw the plea in court. That effort I didn’t do it work. His legal team stepped in and the case stopped for several months. Things got worse when Dan was still under bail restrictions while he was moving to Liverpool. Authorities pursued him, arrested him again and moved him to HMP Pentonville.

https://t.co/m6luwkz35uEmployee Stolen Item $2 million: plead guilty in court!

In May 2024, Jarrett Dunn, former developer of the Solana-based MemeCoin platform, carried out a flash loan attack. Remove the loan, manipulate the binding curve, ejection of ~12,300 Sol…

– 21borov (@21_borv) August 15th, 2025

If you turn the corner and pass a sentence, the penalty may be severe.

Dan I’m expecting In Get a verdict Within two weeks. The fees he faces are Serious If classified as a first-class attack, it is enough to land him behind the bar for over seven years. Wideer impact on pumps. fun It was important. The team estimates they lost as much as $12.8 million in damages, not just stolen funds, but also downtime transactions, reputational damage and reduced platform activity.

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Mental health adds complexity to your case

Court documents show that Dan has a long history of mental health challenges, including diagnosing schizoaffective bipolar disorder, panic disorder and ADHD. He also struggled with the use of substances and was taking medication at the time of theft. When police first arrested him, he was reportedly not worthy of the question. He later spent two weeks under hospital care, but that It will be considered Judgment underway.

24 hours7d30D1Yeverytime

Inside Job Exposed LaunchPad Risk

Dan was at the pump. fun Only 6 weeks will he use his developer access Quietly extract the sol from the binding curve contract. After moving the funds, he had scattered them across multiple wallets, making recovery almost impossible. His actions suggested that he might have considered it some. It’s a vigilante stunt, but I didn’t do it Protect him from criminal charges. This violation highlighted the risks crypto startups face when internal controls are loose or in a hurry.

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Despite the scandal, the pump. fun it’s not It slowed down

Surprisingly, the platform has only grown since the incident. Pump.fun bounced and unfolded with the launch of a $600 million token My own It exceeded $770 million in pump tokens and record-high revenue. There are currently major spots Solana The growing Memocoin ecosystem. The scandal may have derailed the project, but it appears to have accelerated its growth in several ways.

Dan’s Cases are reminders of how quickly things can helix in cryptography. One of the past, with access and trouble, has been able to shake up the multi-million-dollar platform. Now the court will decide whether mental health, regret and cooperation will be heavy enough to affect his sentence, or whether it will use this as a cautionary substance about what goes wrong when the industry is misguided.

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After hitting a new low two days ago, the Pump.Fun jumped nearly 30% to the key resistance level. When the token attempts to regain this area, analysts suggest that there may be a bottom in place, and a recovery rally is ongoing.

Related readings

Pumps watch roller coaster price action

On Thursday, Pump.Fun retested key levels after a recent struggle. The token has made headlines for its constant bleeding and has hit a new all-time low (ATL) over the past week.

In particular, the pump was launched on July 14th, with the price of the first coin product (ICO) surged by 70% from $0.0040, reaching an all-time high (ATH) of $0.0068 after two days. However, the disappointing update about the highly anticipated token airdrop, selling pressure from large investors, has stopped the fun.

Just a week after its release, Pump.Fun’s tokens fell below the ICO price and remained below the $0.0030 mark the next day. The cryptocurrency hit a $0.0028 ATL last Thursday after Aron Cohen, the platform co-founder, said pump airdrops would not be happening soon.

Since then, tokens have fallen even further, reaching a new low of $0.0022 on July 29th, down almost 70% from the ATH. Nevertheless, the pump attempted to surpass this range three times last week, also in the area range of $0.0024-$0.0029.

Over the past two days, Pump.Fun has surged nearly 30% from its low, surpassing its $0.0030 resistance for the first time in a week. The token surged 12% on Thursday to a high of $0.0032 each week before retreating from $0.0027 to an area of $0.0029.

Crypto analyst Altcoin Sherpa highlighted recent price action, suggesting that the pump has “some big, powerful moves these days,” and that breakouts and “favourite rallies” could soon be coming.

He previously predicted that the bottom would occur “relatively soon,” and could be followed by “some kind of Giga Crime Pump.”

Pump.Fun buyback to fuel recovery?

The recent recovery appears to be driven in part by the platform’s buyback program and whales’ renewed interest in tokens. Notably, a large investor who previously lost $125,000 on the pump bought $3.16 million worth of tokens on Thursday. Lookonchain shared that the whales will be using 17,542 SOL to purchase a $10.6 billion pump for $0.00297.

Meanwhile, a community member said, “Pumpfun has pivoted on what appears to be a 100% token buyback.. 98% of PumpFun/Pumpswap revenue yesterday ended up buying pumps today. ”

Similarly, on-chain thruce embercnb details that Pump.fun forwarded 12,000 Sol, about $2.16 million, to a buyback address on July 30.

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According to the report, Pump.Fun originally transferred 187,770 Sol, about $30.53 million, from its fee wallet to its repurchase address. Since then, the platform has repurchased 3.828 billion pump tokens for $21.5 million at 129,100 SOL.

Nevertheless, X users expressed concern about the initiative, asserting that “it is unstable.” For community members, inconsistent buybacks are “not good looking (…) first day (not exceeding revenue), 1m after a halt, then 100%, they just look at what gets attention and stop buying backs entirely.”

At the time of this writing, the pump is trading at $0.0027, with a 7% decrease in weekly time frames.

Unsplash.com featured images, tradingView.com charts

Solana-based memecoin launchpad Pump.fun has made the headlines again after its recently launched token, PUMP, plummeted to new lows. The nosedive follows a recent update on the token’s highly anticipated airdrop and its legal troubles.

Related Reading

PUMP Token Loses $1 Billion MC

Just over a week after launch, Pump.fun’s official token has hit a new all-time low (ATL), reaching the $0.0028 area and dropping below the $1 billion market capitalization for the first time since its initial Coin Offering (ICO).

Pump.fun was launched in January 2024 to facilitate and simplify the deployment of tokens. The Solana-based platform quickly became the leading memecoin launchpad in the crypto market, fueling this cycle’s memecoin frenzy.

According to Dune data, the launchpad has deployed nearly 12 million tokens over the last 18 months and generated a Total Revenue of over $775 million. After announcing its official token in early June, the platform’s PUMP rollout had a bumpy road, as its official X account was suspended mid-month.

The token’s public sale was also pushed nearly three weeks from its original June 25 date. Nonetheless, Pump.fun recorded a highly successful sale two weeks ago, raising $600 million in just 12 minutes.

Two days after its launch, PUMP surged around 70% from its ICO price, reaching an all-time high (ATH) of $0.0068 on July 16. Since then, investors have seen a 57.9% price drop, with 25% of its decline occurring in the past 24 hours.

The violent correction has been partially fueled by the recent update of PUMP’s upcoming airdrop. In the token announcement, Pump.fun stated that an airdrop was “coming soon,” but didn’t offer further details.

On Wednesday night, the platform’s co-founder, Alon Cohen, confirmed that there will be a token airdrop but revealed it “is not going to take place in the near future,” which ignited massive backlash from the community and sent the token into its current nosedive.

Community Slams Pump.fun Team

Several X users have expressed their concerns and discontent with Pump.fun’s team, with some claiming that it is “easily one of the worst charts out right now” as “PUMP is trading like the devs already gave up.”

Another user stated that “the way PUMP is performing post-TGE is 100% on the team. Only in crypto you can sell a ‘utility coin’ for $1.3B in cash and a week later no one still has a clue what those utilities even are lol.”

Some community members remain hopeful that the cryptocurrency will reverse. Market watcher Bren Trades considers that “The crowd is grave dancing on PUMP. Just like they did with PENGU And we saw how that played out.”

He noted that “If you’ve been here for a while, you know these post-launch dump outs are commonplace.” Meanwhile, crypto analyst Altcoin Sherpa wrote on X that “joking aside, I actually do think that PUMP bottoms relatively soon. I am expecting some sort of giga crime pump eventually.”

Legal Drama Intensifies

In January, Burwick Law filed a class-action lawsuit against the platform, alleging it acted as an unregistered securities exchange. According to the original complaint, users have suffered massive losses due to their tokens’ price plunging after the hype died down.

On Wednesday, the law firm filed an amended lawsuit in the Southern District of New York against the platform and some of its Solana partners, including Solana Labs, the Solana Foundation, Jito Labs, and the Jito Foundation.

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The new complaint escalates the extent of the allegations, claiming that the defendants have extracted over $5.5 billion from customers through schemes, and seeking rescission of Pump.fun transactions and compensatory damages.

As of this writing, PUMP is trading at $0.0028, a 26.6% decline in the daily timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

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Pump.fun former employee Jarett Dunn has been remanded to a London prison after breaching the terms of a bail agreement. The Canadian and popular crypto figure is currently undergoing trial after stealing $2 million from the Solana meme coin factory.

Dunn Settles For Prison, Hints At Accepting Guilty Plea

In May 2024, Jarett Dunn, a developer at Pump.fun, drained the platform of almost $2 million in SOL, which was diverted to multiple addresses. Thereafter, Dunn started distributing this stolen wealth to several wallets holding Solana memecoins or NFTs, allowing the Canadian to gain some following in the crypto community.

Notably, Jarett Dunn took responsibility for the exploits within minutes of the operation, citing reasons such as a hostile work environment and inappropriate mentality towards user funds. Dunn accused Pump.fun of several crimes, including operating as an unregistered securities exchange and casino, alongside suggestions of child abuse intentions.

The former Pump.fun employee was immediately arrested but soon released on bail. In October 2024, Jarett Dunn pleaded guilty to the crypto theft but soon requested to withdraw this plea while awaiting sentencing. This action resulted in Dunn losing his legal team while under a strict bail condition that involved movement restriction.

However, in June 2025, Jarett Dunn breached this bail agreement in a sudden, unauthorized move from London to Liverpool while also tampering with his ankle monitor. The ex-Pump.fun developer was soon apprehended and now sits in a London prison awaiting a hearing.

According to recent posts on Dunn’s X account under the alias @STACCoverflow, the Canadian appears to have made peace with staying in prison, hinting at accepting the guilty plea again and terminating his withdrawal request. @STACCoverflow is reportedly managed by Dunn’s friend Mark Kelly, who has reportedly been communicating with the developer since his recent incarceration.

Dunn Stares At 10-Year Sentence While Pump.fun Celebrates ICO

In the UK, fraud by abuse of position where the value exceeds £500,000 ($640,000) can result in a maximum sentence of 10 years. While a bail breach attracts remand in prison until hearing or an additional 12 months’ jail time if prosecuted as a separate offence. However, such factors as an early guilty plea and purported health issues may help mitigate sentences in the case of Jarett Dunn.

Meanwhile, Pump.fun just recently concluded its initial coin offering (ICO) process, raising about $600 million in the process. The Solana memecoin factory is now valued at over $6 billion following resounding success, such as Moo Deng (MOODENG), Fart Coin (FARTCOIN), Peanut The Squirrel (PNUT), etc.

Featured image from Pexels, chart from Tradingview

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The top US-based crypto exchange by trading volume is helping pump up a popular Solana (SOL)-based memecoin platform with its latest listing.

According to a new announcement from Coinbase, pump.fun (PUMP) is the latest altcoin to be added to the exchange’s suite of digital assets.

“Pump.fun (PUMP) is now live on Coinbase.com and in the Coinbase iOS and Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”

Pump.fun has gained popularity as a platform that allows users to create and trade original memecoins without the burden of coding. So far, pump.fun claims to have launched over 11 million tokens and generated $700 million in revenue since its launch in 2024. The platform aims to reward early buyers of new coins and allow the memecoins to “graduate” to decentralized exchange (DEX) trading after certain milestones are surpassed.

Just last week, pump.fun completed one of the fastest-selling initial coin offerings (ICOs) to date.

“The PUMP public sale has now ended. We are delighted to reveal that the PUMP public sale was able to sell out in only 12 minutes. We would like to thank our entire community for participating! The PUMP tokens will now enter the distribution phase.”

All the tokens that were sold through the Pump.fun website and participating crypto exchanges will be transferred 48 to 72 hours after the sale. The tokens will become tradable and transferable once the protocol announces that the process is completed.

In an earlier statement, Pump.fun said that 33% of PUMP’s maximum supply of 1 trillion will be sold in the ICO, 24% is reserved for community and ecosystem initiatives, 20% is allocated for the team, 13% for the existing investors, 2.4% for the ecosystem fund, 2% for the foundation, 3% for livestreaming and 2.6% for liquidity and exchanges.

Following the announcement of the Coinbase listing, pump.fun is worth $0.00568 at time of writing, up 4.5% in the last 24 hours.

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The memecoin launchpad Pump.fun has completed one of the fastest-selling initial coin offerings (ICOs) to date.

In a post on the social media platform X, the Solana (SOL)-based platform says that its official native token, PUMP, sold out in just minutes during the ICO event on July 12th, generating millions of dollars in sales.

“The PUMP public sale has now ended. We are delighted to reveal that the PUMP public sale was able to sell out in only 12 minutes. We would like to thank our entire community for participating! The PUMP tokens will now enter the distribution phase.”

All the tokens that were sold through the Pump.fun website and participating crypto exchanges will be transferred 48 to 72 hours after the sale. The tokens will become tradable and transferable once the protocol announces that the process is completed. 

In an earlier statement, Pump.fun said that 33% of PUMP’s maximum supply of 1 trillion will be sold in the ICO, 24% is reserved for community and ecosystem initiatives, 20% is allocated for the team, 13% for the existing investors, 2.4% for the ecosystem fund, 2% for the foundation, 3% for livestreaming and 2.6% for liquidity and exchanges.

According to data from the crypto exchange Gate, the public token sale sold 125 billion PUMP at 0.004 USDT each, raising a total of $500 million.

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Pump.fun’s long-anticipated public token sale concluded in a mere 12 minutes, and investors snapped up the full 12.5% of its 1 trillion‑token supply in a quick move. The event raised a total of $500 million from the sale of 125 billion PUMP tokens priced at $0.004, which accounts for 12.5% of the total 1 trillion token supply. 

$500 Million Raised In Just 12 Minutes

The Pump.fun ICO has officially become one of the most explosive token launches of the year after raising $500 million and closing out its sale in just 12 minutes. The Solana-based memecoin launchpad stunned the crypto community this Saturday with an explosive public token sale offering that distributed 125 billion PUMP tokens, which amounts to about 12.5% of the total 1 trillion supply at $0.004 apiece. This complete sale brings the PUMP tokens to a fully diluted valuation (FDV) of $4 billion.

Investors participated in the ICO by buying directly on the Pump.fun official token website or any of the project’s multiple centralized exchanges, which include Bybit, KuCoin, Bitget, Kraken, Gate.io, and MEXC. According to a dashboard on the official website, $448.5 million worth of PUMP tokens were purchased on the website, $5 million worth were purchased on Gate, $30 million worth were purchased on Kraken, and $16.5 million worth of tokens were purchased on KuCoin.

Image From Pump.fun

Buyers can expect PUMP tokens to be distributed within the next 48 to 72 hours, but transfers will be temporarily disabled during this window. Transfers will be enabled immediately after the distribution is complete. Nonetheless, pre-market activity suggests strong bullish sentiment. The quick sellout indicates that the crypto could surge massively in the first few trading sessions after launch, as long as the market is still in its current bullish state at the time it launches.

Mixed Reactions After Quick Sellout

The earliest that PUMP could become tradable and accessible for US and UK users is Monday, July 14. Notably, PUMP’s pre-listing price surged to as high as $0.006989 on Hyperliquid after the sale. Although it dropped after this peak, it has recovered a bit and is now around $0.006989. 

Notably, the project’s post of the sellout on the social media platform X was met with mixed reactions, as shown in the comments. Supporters celebrated the event, but not everyone was impressed. Some users voiced frustration over exchange issues that prevented them from completing their purchases during the short 12-minute window, while others raised questions about token distribution fairness, especially considering the discrepancy between the 33% supply initially promised for the ICO and the 12.5% that was ultimately offered in the public sale.

Image From Pump.fun

One trader reportedly opened a huge short position on Hyperliquid on $PUMP using 2x leverage with $8 million in USDC. The position is already about $800,000 in the red and is steadily approaching liquidation at $0.0085.

Featured image from Unsplash, chart from TradingView

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12 minutes.

That’s how long it took for Pump.fun’s token offering to raise roughly $500 million from retail investors across various exchanges, including Bybit, Kraken, and KuCoin.

The sale priced 125 billion tokens at $0.004 apiece, implying a $4 billion fully diluted valuation for the Solana-based memecoin launcher’s new utility token.

For now, holders must wait to get their hands on the token they bought.

Pump.fun said the purchased tokens will land in wallets over the next 48–72 hours and will stay locked until distribution ends, blocking trades or transfers.

The team shared the official Solana contract address— pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn— and warned users to shun look-alike assets.

Read more: PUMP Lingers at 40% Premium Over ICO Price on Hyperliquid Ahead of Pump.fun Token Sale

In total, Pump.fun’s ICO was set to sell 33% of PUMP’s 1 trillion token supply, with 18% having already been allocated earlier via a private sale. The public allocation was recently lowered from 15% to 12.5%, which sold out in just 12 minutes.

Its other allocations include 20% for the team behind the project, 24% for community and ecosystem incentives, 13% for existing investors, 2.6% for liquidity, 2.4% for an ecosystem fund, with the remaining for a foundation fund and live streaming incentives.

Pump.fun allows anyone to mint and list a coin with a new token in a few clicks. When a freshly minted token reaches a specific threshold, it gets listed on decentralized exchanges.

The sale comes as the token launchpad’s metrics show a deepening decline in activity. DeFiLlama data shows that in January Pump.fun’s launchpad volume was above $11.6 billion, and has since been steadily declining to $3.65 billion last month.

Similarly, revenue generated via the launchpad dropped from $133 million in the first month of the year to nearly $34 million last month, according to DeFiLlama data.

While launchpad volumes plunged, Pump.fun’s decentralized exchange PumpSwap, which was launched in March, has been making up for the decline, seeing $14.3 billion of volume in May and $10 billion last month. Revenue for PumpSwap stood at $7 and $5 million for those months, per the same data source.

UPDATE (July 12, 15:54 UTC): Adds more context throughout.