Pumpfun launches mobile app amid renewed memecoin frenzy

Solana-based memecoin launchpad Pump.fun has launched a mobile app supporting iOS and Android devices, according to a Feb. 14 announcement.

The app allows users to buy, sell, and create tokens for free, manage their digital portfolios, and track assets in real-time. The mobile release aims to enhance accessibility for a growing user base, providing seamless interaction with the Solana blockchain on the go.

The company highlighted that the app is designed with a user-friendly interface, making it easier for both experienced traders and newcomers to navigate the volatile memecoin landscape.

Like the main platform, the Pump.fun app will not be available to UK users due to regulatory challenges in the country.

Renewed memecoin frenzy

The app launch comes amid a renewed memecoin frenzy fueled by a viral social media post made by former Binance CEO Changpeng ‘CZ’ Zhao.

CZ’s revelation of his dog’s name, Broccoli, sparked a wave of speculation, leading to the creation of hundreds of Broccoli-themed tokens — the vast majority of which were rug pulls or honey pot scams launched by malicious actors trying to take advantage of the situation.

Many of these coins, particularly on Pump.fun and BNB Smart Chain’s Four.Meme, experienced rapid price surges before crashing. Some traders capitalized on the frenzy, with blockchain data revealing instances of early entrants making millions before latecomers suffered heavy losses.

This latest episode highlights the speculative nature of the memecoin market and its susceptibility to hype-driven price movements.

Regulatory Challenges persist

The app launch comes despite the platform’s recent legal and regulatory challenges in multiple jurisdictions around the world.

In December 2024, the UK’s Financial Conduct Authority (FCA) warned investors to “beware of scams” involving Pump.fun, stating that the platform might be operating without proper authorization.

The regulator’s concerns centered around the platform’s potential to facilitate unregistered securities trading and market manipulation. Industry experts have pointed out that the FCA’s increased scrutiny of crypto-related platforms signals a broader regulatory tightening across Europe.

The regulatory scrutiny prompted Pump.fun to block access to the platform for local users and essentially “withdraw” from the UK. There have been no further updates about the situation from UK authorities or the platform.

Legal challenges have also surfaced in the US, where two law firms have sued Pump.fun over alleged intellectual property violations, and another lawsuit claims the platform violates securities laws.

Additionally, US regulators have reportedly been examining Pump.fun’s role in the proliferation of unregistered tokens and its compliance with anti-money laundering laws. The lawsuits raise questions about the broader legality of memecoin projects and the responsibilities of platforms facilitating their creation.

Despite these hurdles, Pump.fun remains a dominant force in the memecoin sector. The platform has generated significant transaction volumes, with a daily fee revenue of $15.5 million in its first year. On Feb. 13 alone, Pump.fun recorded $7.61 million in fees.

The platform’s rapid adoption highlights the continued demand for speculative digital assets, even amid increasing regulatory pressure.

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