ChainCatcher news, at the Solana Breakpoint conference, Jupiter Exchange announced the launch of the Ape Mint token minting feature to compete with Pump.fun.Ape Mint allows token creators to mint tokens, lock liquidity, and earn permanent trading fees.

ChainCatcher news, the blockchain data visualization platform Bubblemaps has released an investigative report revealing that Indian developer Sahil Arora profited approximately $30 million in 2024 by issuing tokens for celebrities. The report indicates that Arora, who currently resides in Dubai, has issued tokens for several well-known figures such as Iggy Azalea and Caitlyn Jenner, but most projects ultimately went to zero.Arora operates through the Pump.fun platform, leveraging his Instagram influence and verification badge to persuade celebrities to tweet about token addresses for high compensation. He typically holds 25-40% of the token supply and sells immediately after the celebrities tweet, using their fans as exit liquidity.Bubblemaps has identified over 40 addresses associated with Arora. From the beginning of 2024 to date, he has cashed out approximately $26.4 million, with the highest cash-out amount in August reaching $6.6 million. Despite causing significant losses for investors, Arora's actions exist in a legal gray area, making it difficult to hold him accountable. Even the celebrities involved have not taken action against him due to shared responsibility.

ChainCatcher news, according to a report by Bloomberg, based on data compiled by Subin Alon, a data analyst at the crypto venture capital firm Hashed, since its launch in January, over 1 million meme coin projects have been created on the Pump.fun platform, which is based on the Solana and Blast blockchains. Pump.fun has become the preferred venue for retail investors to create and trade meme coins, gaining popularity and generating an estimated revenue of over $50 million in just six months. According to Alon, the website's design is inspired by the minimalist style of 4chan, as Pump.fun's initial target audience was users of the 4chan forum.This year, Pump.fun has also attracted the attention of celebrities, including rapper Iggy Azalea, who launched a token called MOTHER on Pump.fun. Alon stated that Pump.fun has also been influenced by SocialFi platforms like Friend.tech, which are seen as competitors to cryptocurrency products relative to X and other social media giants.