Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
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
Thank you to our sponsors!
Guest
- Ryan Watkins, Co-founder of Syncracy Capital
Links
- 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)”
