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FWOG 
GRIFFAIN Curve Finance founder blasts Pump.fun: calling it a "minin casino"
Curve Finance founder Michael Egorov criticized the Solana-based Pump.fun platform for its role in the minin market. His remarks put even more pressure on Pump.fun, which has grown into one of the largest venues for new memin launches.
Token failure and controversy continues
Egorov criticized Pump.fun, calling it "a memin casino full of scams." However, ClawPump co-founder Thomas Oliver countered that the platform only provides a service and users choose how to use it. Oliver added that if Pump.fun did not dominate the market, memino-related activity would appear elsewhere.
This Solana-based distribution platform has been in controversy many times before, especially over how it is used. In November 2024, its live broadcast feature met with strong opposition as users began using the feature to perform extreme and disturbing performances, pegged to the token price. Some live broadcasts involve self-harm, violence and threats of harm to family members. At one point, a user threatened to end his life if the token's market value failed to reach $25 million. In another incident, a couple reportedly used their children as a marketing tool to push up tokens.
These negative reactions forced Pump.fun to suspend its live broadcast feature. This feature will be re-launched in April 2025, but with stricter review rules. During this period, the platform also faced legal pressure. A proposed class-action lawsuit accuses Pump.fun of providing unregistered securities and alleges it has charged nearly $500 million in fees. The lawsuit was filed by a trader who claimed he lost money on three tokens: FWOG, FRED and GRIFFAIN.
The paradox behind growth
Concerns about the token itself also persist. In May 2025, a report by blockchain analysis company Solidius Labs found that 98.6% of the Pump.fun tokens it analyzed showed the characteristics of pulling up shipments or pulling carpet scams. More recent data shows that CoinGecko's analysis of 18.67 million tokens found that more than 68% of the tokens completed their last transaction on the day of issuance, and only 4.55% of the tokens were active for more than 90 days.
Despite this, the platform has become one of Solana's main revenue sources. In fact, it is one of seven Solana apps with revenue exceeding $100 million in 2025. According to a recent newsletter from anonymous Pump.fun co-founder Sapijiju, the distribution platform's revenue exceeded Hyperliquid in 30 days.
