Pump.Fun’s co-founder Alon Cohen has publicly distanced the platform from the controversial auto-minted token experiment promoted by Coinbase’s Layer 2 network, Base. Following a significant market crash of the token related to Base, which saw its valuation soar to $17 million before plummeting, Cohen emphasized that Pump.Fun has no intention of launching similar tokens or engaging in stealth launches. He criticized the incident, stating that auto-minted tokens can harm community trust, highlighting the responsibility that comes with social influence in the crypto space. Cohen reiterated that while Pump.Fun aims to explore new aspects of social media and tokenization, they prioritize alignment with their user base. Although the token associated with Base has seen some recovery, Cohen called for greater accountability among platforms in the blockchain industry, stressing the need for adherence to social standards and ethical practices. The discussion comes amid a broader reevaluation of the role and influence of meme coins in the cryptocurrency ecosystem, especially following notable events in terms of reaction and trading dynamics.

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