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Unchained

How Pump.fun Plans to Beat Social Media Giants and Win Beyond Crypto - Ep.901

Unchained

Laura Shin

News, Tech News, Business News

4.61.3K Ratings

🗓️ 11 September 2025

⏱️ 67 minutes

🧾️ Download transcript

Summary

Pump.fun rocketed to revenue, ran a blockbuster token sale, and then hit turbulence: rivals took share, the token slid, bots spammed launches, and critics cried “casino.”  Now the team is fighting back with a dynamic creator-fee model, a liquidity foundation for cult communities, and an unapologetic push into live streaming and mobile. In this episode, co-founder Noah Tweedale lays out how Project Ascend aims to align creators and communities, why buybacks aren’t a long-term business model, what they’re doing about bots and user losses, and how Pump plans to compete not just with crypto apps, but with YouTube, Twitch, and TikTok.  It’s a candid look at whether a crypto product can become a mainstream platform. Thank you to our sponsor ⁠Token2049⁠! Get 15% off with the code UNCHAINED Guest: Noah Tweedale, Co-founder of Pump.fun Timestamps: 🎬 0:00 Intro ⚡ 2:09 Why the past few months have been so turbulent for Pump 💸 4:47 How the new dynamic fee model works for creators 🔍 9:40 How Pump’s discovery algorithm surfaces tokens ♻️ 10:45 Will Pump’s buybacks become programmatic? 🐶 15:33 Why LetsBonk was able to grab so much market share ⚔️ 18:20 Whether Noah sees Zora as a competitor 🌍 20:09 Why Noah wants to build a world-changing app, not chase small wins 👥 25:02 Whether Pump is prioritizing specific demographics 🔧 27:14 What the team is focused on improving in the app 🔗 30:32 How Pump is building interoperability with the broader crypto ecosystem 🤖 32:21 What the team is doing about bots launching tokens 💔 34:48 Whether they’re worried about so many users losing money 🛡️ 36:15 Why Noah doesn’t see apps like Zora or Believe as real competitors 📱 38:38 How mobile usage differs from desktop on Pump ⚖️ 40:03 How Pump approaches regulation and compliance 🎲 41:02 Why Noah insists Pump is not gambling, it’s trading 🎥 42:49 The strategies to compete with YouTube and Twitch 🌐 48:30 How Pump fits into a world with a widening wealth gap 🎰 53:29 How Noah responds to critics calling Pump a casino 🗺️ 57:56 Why Noah says roadmaps are a fallacy 🛠️ 59:41 Whether Pump will evolve into an “everything app” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

As I'm sure you're very well aware, a lot of people criticize pump fun and like similar platforms saying it's gambling or it's the mean coin casino.

0:08.1

And I wondered what your response is to those critics.

0:11.0

I know, just like have a higher IQ, I guess.

0:17.1

Hi, everyone. Welcome to Unchained. You're no hype resource for all things crypto. I'm your host, Laura Shin. This is the September 11th, 2025 episode of Unchained. The crypto world is buzzing. On October 1st and 2nd, 25,000 people will be at Token 2049 Singapore, the largest crypto event in the world, featuring headline speakers like Eric Trump,

0:38.6

Vlad Tenev, Tom Lee, Bologi Sreeny Vosin, and Arthur Hayes.

0:43.4

Visit asia.tokin249.com now to get 15% off tickets with the code unchained.

0:51.1

Today's guest is Noah Tweedale, co-founder of Pump Fun.

0:54.5

Welcome, Noah.

0:55.9

Hey, how's it going?

0:57.8

I'm really good.

0:58.7

I'm so excited to chat with you guys.

1:01.1

Pump Fun is clearly one of the biggest crypto successes in the last couple years.

1:05.1

It's become one of the fastest companies to reach not only profitability, but also

1:09.3

rake in huge amounts of revenue.

1:11.2

You recently cost $840 million in revenue.

1:14.8

Your company also recently raised $1.2 billion in an ICO.

1:19.2

You have even bigger ambitions to compete with social media giants.

1:23.6

But I want to talk about like the kind of the recent period because, you know, it's like not only have you had this wild ride the last couple years, but it's like been sort of condensed to this summer, I would say, with multiple ups and downs.

1:38.1

You know, obviously this ICO sold out quickly at the same time the platform was like losing market share and then got overtaken by

1:44.4

let's bonk. Then the token kind of dropped precipitously, but then recently Pump has now flipped

1:50.8

let's balk again to regain the majority of market share. Now more than 80% of coins in Solana

1:56.6

are being minted on Pump Fund again. And it feels like you're kind of on this upward trajectory. You've made a bunch of new announcements. So I was just curious, like, how are you feeling at this moment in time? Like, what are your general thoughts on everything that's happened? I mean, that's a cool question. Because I think, like, I mean, obviously the past sort of couple months was sort of pretty crazy, I guess, from the outside perspective. But I mean,

...

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