The post Pump.fun founder calls for memecoin guardrails, disgusted by LIBRA appeared on BitcoinEthereumNews.com.

In light of the ongoing scandal caused by the LIBRA memecoin launch, the founder of the Solana-based Pump.fun has called for new rules to be put in place for token launchpads. The anonymous founder said that he was “disgusted” by what happened with the launch of the LIBRA memecoin.  Today, in a post, pseudonymous Pump.fun founder alon said that Pump.fun did a great job by making it very easy to make a coin. He wrote, “Creating a memecoin should be so stupidly simple that anyone can do it.”  What this means is that there shouldn’t be middlemen like development teams and market players involved. Therefore he asserted, “The mere existence of such actors means that anyone can easily be taken advantage of.” It has been a circus keeping track of everyone people involved in the LIBRA scam. The president of Argentina initially advertised the token, but later, his office issued a statement distancing him from LIBRA. It emphasized that he was not involved in the currency’s development. On the other hand,  the person responsible for creating LIBRA, Davis Hayden, said the token lost control when President Javier Milei officially endorsed the token only to deny it.  This, according to him, is what caused the market to crash almost right away. Several wallets took more than $107 million in one-way liquidity from the token’s liquidity pool. In response, the market cap dropped by $4.4 billion in just six hours. Javier Milei just DESTROYED the memecoin market: Hours ago, Argentinian President Milei launched a memecoin, $LIBRA, for “the growth of their economy.” Within 5 hours, over -$4.4 BILLION of market cap was erased. Is this the biggest rug pull in history? (a thread) pic.twitter.com/t4T69r851d — The Kobeissi Letter (@KobeissiLetter) February 15, 2025 Hayden called himself a “launch strategist” instead of the project’s…

---

Filed under: News - @ February 18, 2025 11:15 am