On Tuesday, a pseudonymous X account claimed that Pump.fun, Solana’s breakout memecoin launchpad, would raise $1 billion via an ICO at a $4 billion valuation. The potential deal? Multiple CEX listings, a 10% community airdrop, and maybe even a launch by the end of the month.
The community reaction? Not great.
In this episode, Syncracy Capital’s Ryan Watkins joins to break down the backlash, whether the raise makes sense, and what this kind of fundraising says about the current state of crypto.
He discusses:
Whether Pump needs $1 billion and what they’d even do with it
Why some people are furious, even as Pump prints revenue
If this is bullish or bearish for Solana
Why an airdrop was not pursued
Whether the $4 billion valuation makes sense
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Ledn
FalconX
Human Rights Foundation
Ryan Watkins, Co-founder of Syncracy Capital
Unchained: Pump.fun Mulls $1B Token Sale
Nextfckingthing’s tweet breaking the news
Ansem’s tweet on “pump fun raising $1B at $4B after Trumpcoin launch is like the second plane hitting the towers”
Ansem’s poll
Ryan’s tweet on “Pump anger”
Solojay tweet on Pump’s top 25 wallets
Mosi’s tweet on why “Pump's ICO seems like an asymmetric bet (skewed to the downside)”
Timestamps:
👋 0:00 Intro
🤔 4:03 Why skepticism around Pump.fun’s $1B raise is valid
💰 7:06 What Pump would even do with $1 billion
📈 21:17 Whether a $4B valuation actually holds up
🔥 24:08 Will this ICO hurt SOL?
🎁 27:05 Why Pump chose not to do a big airdrop
📱 28:56 Whether Pump.fun can hold its ground as SocialFi competition heats up
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