Pump Fun, the Solana-based protocol that exploded onto the cryptocurrency scene in September 2024, has been blocked for users in the United Kingdom. The platform has reportedly received a warning from the FCA.
The platform, known for launching memecoins and various celebrity-themed tokens, displayed a notice stating, “Our systems have identified that you are in the United Kingdom. In accordance with the laws and regulations of the United Kingdom, this site is currently unavailable to users in the United Kingdom.” A link is provided for UK users to withdraw any remaining funds from their “privy wallet.”
Pump Fun’s meteoric rise saw it generate $100 million in revenue in record time, becoming the fastest-growing crypto app in history by some metrics. However, its success has been accompanied by controversy. The platform has been criticized for flooding the market with meme coins, contributing to volatile market conditions and potentially exposing investors to significant risks. Its history includes several controversial incidents, including a developer reportedly setting himself on fire – an event that underscores the extreme pressures and often bizarre nature of the meme coin space.
