pump.fun Exclusive Interview: LIBRA Incident Mastermind Should Be Held Accountable, On-chain Speculative Demand Will Not Disappear

BlockBeats News, February 18th, pump.fun co-founder Alon Cohen stated, "I am disgusted by the events surrounding the LIBRA token in the past few days. The individuals behind this project have prioritized their significant personal gains at the expense of numerous users, the ecosystem, and potentially even an entire country.

I hope that those responsible will face the appropriate consequences.

I understand that the situation is still unfolding, so if you are aware of any misconduct by any participant in the ecosystem, no matter how small, you should speak up. I also recognize that some individuals may be in difficult positions, so my DMs are open if I can be of assistance.

The events over the weekend were particularly heartbreaking, as the establishment of pump fun was specifically meant to address some of the issues that have come to light in the past few days.

Most importantly, the involvement of middlemen (such as the 'development team' and liquidity providers) is absurd — creating a Meme coin should be straightforward, something anyone can do. The mere presence of such participants means that anyone can be easily taken advantage of.

When we created pump fun, we set out from the outset to achieve standardization, automation, and democratization of token creation, striving to establish a secure, simple, and equitable baseline for every issuance.

Many have suggested that this might be the 'end of Meme coins,' but the reality is that the demand from users for permissionless on-chain creation/speculation will not disappear.

That being said, for platforms like pump fun, it is crucial to provide safeguards to ensure users are as secure as possible while also addressing their needs."