As a seasoned researcher with years of experience delving into the intricacies of the cryptocurrency world, I find myself both intrigued and saddened by the recent turn of events regarding Pump.fun. The rapid rise and fall of such platforms is a testament to the wild west nature of this industry, where innovation often outpaces regulation.
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.”
This past week, the primary financial regulatory body in the United Kingdom, known as the Financial Conduct Authority (FCA), has cautioned against using Pump.fun.
Earlier this year, Pump.fun skyrocketed in visibility, enabling numerous individuals to mint a token swiftly by just a few clicks and a minor charge. This surge in popularity has sparked a fresh wave of meme token creation, reminiscent of the Cambrian explosion.
By mid-June, it had outperformed Ethereum in terms of daily earnings. In October, Pump.fun accumulated a total of 1 million Solana (SOL) in transaction fees.
As per information from the cryptocurrency analysis platform Dune, the grand total of tokens released on this platform has now exceeded a staggering 4.3 million.
Recently, Pump.fun has been drawing increased interest on social platforms due to its integrated live streaming function. Some users, in a state of extreme desperation, have utilized this feature to broadcast highly disturbing content as a means to publicize their digital tokens.
The live streaming function, leading to some shocking and sickening marketing tactics, faced intense criticism within the cryptocurrency community. Many users predicted that the platform might eventually face a ban due to these actions.
Yet, these restrictions could prove ineffective as they may be bypassed using a Virtual Private Network (VPN).
Eric Conner, an advocate for Ethereum (@econoar), asserts that the UK’s ban on Pump.fun is merely the first step for nation-states to target blockchains. He further suggests that everyone will soon grasp the importance of genuine decentralization and why Ethereum emphasizes it, stating “you will all come to see its value.
Read More
- FIS PREDICTION. FIS cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- Tips For Running A Gothic Horror Campaign In D&D
- EUR CAD PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- DCU: Who is Jason Momoa’s Lobo?
- OSRS: Best Tasks to Block
- Luma Island: All Mountain Offering Crystal Locations
- EUR ARS PREDICTION
- INR RUB PREDICTION
2024-12-06 19:37