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Solana Memecoin Hub Pump Fun Faces UK Ban for Regulatory Noncompliance
Solana-based memecoin platform, Pump fun, has barred access to users in the United Kingdom following a warning from the country’s financial regulator.
This decision marks a major development for one of the leading token launchpads, which has been at the center of both explosive growth and intense scrutiny since its launch earlier this year.
UK Users Blocked Amid Regulatory Warning
Pump fun has officially banned UK residents from accessing its services, citing compliance with local regulations. This decision came three days after the UK’s Financial Conduct Authority (FCA) issued a warning stating that the platform “may be providing or promoting financial services or products without our permission.”
The FCA emphasized that Pump fun was operating without the required authorization under UK financial laws. It further advised the public to avoid dealing with the platform and warned of the potential risks of losing funds.
PUMP FUN BANNED IN THE UNITED KINGDOM: WEBSITE pic.twitter.com/qk8YuuNMcQ
— Aggr News (@AggrNews) December 6, 2024
Pump fun responded swiftly by updating its website and terms of service to block UK users. A notice on the site now states that the United Kingdom is a restricted jurisdiction, and the platform is “unavailable to users in the United Kingdom.”
Pump fun Part of Solana’s Memecoin Boom
Since its debut in early 2024, Pump fun has become a central hub for creating and trading memecoins on the Solana blockchain.
The platform allows users to launch tokens without coding skills and has facilitated the creation of high-profile assets such as PNUT and WIF. These tokens contributed to a wave of meme-driven trading activity that generated $250 million for Pump fun’s founders.
Pump fun accounted for 62% of all decentralized exchange transactions on Solana in November, according to on-chain data from Dune Analytics. However, its rapid rise has been accompanied by mounting legal and ethical challenges, leading to calls for stricter oversight.
Regulatory Concerns and Past Controversies
Solana memecoin hub Pump fun has faced multiple controversies over its content moderation practices and lack of transparency. Earlier this year, the platform came under fire after reports of child exploitation material and violent content appearing during its now-disabled livestreaming feature.
The feature, which allowed token creators to promote their coins in real-time, was removed in response to widespread backlash.
Additionally, questions have been raised about the company’s legal structure and compliance. The FCA warning highlighted the platform’s failure to meet the country’s money laundering regulations, which require cryptocurrency firms operating in the UK to register and secure approval. With only 47 out of 347 applications approved by the FCA as of mid-2024, the agency has taken a firm stance against unregistered platforms.
Pump Fun Uncertain Future for UK-Based Founders
Pump fun’s origins in the UK add further complexity to its regulatory challenges. While the platform’s co-founders operate under pseudonyms, it is registered as Baton Corporation Ltd. in the UK. This means local authorities have jurisdiction over its activities and could impose further legal actions if the company is found to have violated UK laws.
Legal experts have pointed out that the platform’s lack of terms of service, privacy policies, and adequate content moderation could leave it vulnerable to more penalties. Crypto lawyer Preston Byrne noted,
“The fact that the individuals rumored to be the founding team are all UK residents complicates the picture…the UK has greater leverage over them than they would a U.S. team.”
While Pump fun has confirmed that the UK ban is permanent, it remains unclear how this development will affect its operations outside the region. The platform has yet to release an official public statement addressing the FCA’s warning or its next steps.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The Ethereum-to-Bitcoin ratio has fallen to its lowest level in five years after a dismal Ethereum price performance. As investors try to wrap their heads around the grim metric, Taproot Wizards co-founder Eric Wall has explained the reason behind the steep drop.
Eric Wall Highlights Reasons For ETH/BTC Ratio Collapse
Taproot Wizards co-founder Eric Wall has identified a raft of reasons behind the decline of the ETH/BTC ratio in 2025. The cryptocurrency expert revealed the factors behind the falling ETH/BTC ratio in an X post, hinging the bulk of the blame on Ethereum’s recent price performance.
The ETH/BTC ratio slumped to a five-year low after Ethereum bucked the trend of following Bitcoin on a rally after the halving event. While Bitcoin price rose to cross the $100K mark, Ethereum price has tumbled below $2,000 to reach lows of $1,400.
For Wall, one factor affecting the ETH/BTC ratio appears to be Ethereum’s position in a competitive landscape. Since its launch, several blockchains have cropped up to snag market share from the largest altcoin, offering cheaper fees and faster processing times.
The cryptocurrency expert argues that the absence of a Saylor-like buyer for ETH is playing its role in the decline of the ETH/BTC ratio. Michael Saylor’s BTC purchases have contributed to the asset’s performance, but Wall argues that Ethereum does not have a consistent buyer.
Wall adds that Bitcoin and gold have evolved into wartime assets in the current macroeconomic climate, while ETH is considered a “peacetime asset.” Gold has surged to new highs, sparking optimism that Bitcoin will follow in the same path for a similar rally, while the Ethereum price continues its unimpressive run.
The Merge Is Not Responsible For The Ratio Decline
Eric Wall notes that Ethereum’s Merge event is not responsible for the ETH/BTC slump, contrary to popular sentiment. Ethereum migrated from Proof-of-Work to Proof-of-Stake in 2022, with the ETH/BTC ratio tanking since the Merge.
“The ETHBTC ratio did not go down because of The Merge,” said Eric Wall.
However, pseudonymous cryptocurrency analyst Beanie argues that the Merge is the primary reason for the price decline. Rebuffing the speculation, Wall opines that Ethereum’s layer 2 tokens triggered network fragmentation after botching the “asset value capture narrative,” affecting the ETH/BTC ratio.
“Ethereum also stagnated into a depressingly small number of defi primitives relative to what past expectations were,” added Wall.
Ethereum is flashing signs of brilliance after ETH trading volume spiked to $17.5 billion in less than a day. ETH prices are exchanging hands at nearly 1,800 after an impressive 12% rally that saw it outperform SOL and XRP
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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While investors are bracing themselves for a Pi Network Price pump, one expert has predicted a start date for the rally. Cryptocurrency analyst Dr Altcoin says Pi Coin price will spike during the upcoming Consensus Summit, with Pi Network founder billed to deliver a keynote address.
Pi Network Price Eyes Massive Rally In May
According to an X post, cryptocurrency analyst Dr Altcoin is forecasting the start of a Pi Coin rally in mid-May. Dr Altcoin notes that investors can expect the start date of the Pi Network price during the Consensus Summit scheduled for May.
Dr Altcoin’s predictions differ from previous projections that tip the start of a Pi Coin rally toward late August. Investors previously hinged their hope for a price rally after the end of the Pi unlocking event, set to release 212 million Pi Coins.
However, Dr Altcoin is predicting the rally to begin much earlier in May, triggered by the momentum around the Consensus event. Dr Altcoin has previously revealed why Consensus 2025 will be pivotal for the Pi Network, given the sheer volume and calibre of attendees.
“I am fairly confident that the price pumping of Pi might start during the Consensus Summit (May 14-16, 2025) rather than at the end of August when Pi unlocking significantly reduces,” said Dr Altcoin.
Several Factors May Delay The Start Date Of The Price Rally
Dr Altcoin’s prediction for the launch of the Pi Network price rally in May faces a raft of challenges. Right out of the bat, the Pi Core Team (PCT) is racing against the clock to approve KYB applications before the start of Consensus 2025.
Furthermore, Dr Altcoin says the launch of decentralized applications (DApps) on the network before Consensus 2025 will support a price rally. While the PCT achieves the milestones before Consensus 2025, other external factors are angling to adversely affect Pi Network prices.
Dr Altcoin has raised alarm over shady activity on Banxa that may trigger artificial volatility for Pi Coin Price. Keen on playing its part to stabilize prices, the PCT has begun purchasing Pi Coins on centralized exchanges, mopping up over 48 million coins.
Currently, Pi Network trades at the $0.6 mark, holding the price level for over a week as investors scan the charts for signals of a seismic rally.
Furthermore, Dr Altcoin is hinging his resolve for a rally on seven Pi Network pros, including accessibility and sustainability perks. The cryptocurrency expert name-checks its security features, low gas fees, and regulatory compliance.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The altcoins sector has gained notable traction as Bitcoin and the broader financial market recovered recently. However, the latest data indicates that the whales are shifting their focus to these specific coins for now. Recent whale activity suggests a strategic pivot toward select altcoins with high growth potential.
These tokens, though under the radar, are now gaining serious momentum thanks to these massive inflows.
Top Altcoins That Whales Are Putting Their Bets On
While Bitcoin grabs headlines due to the robust BTC rally, the top altcoins are quietly stealing the show. According to blockchain analytics platform Lookonchain, whale wallets are actively accumulating three specific tokens, VIRTUAL, Worldcoin (WLD), and GAME. This movement indicates growing confidence in these assets, especially amid a broader market rebound.
In a recent post on X, Lookonchain disclosed that a single whale snapped up 2.53 million VIRTUAL tokens worth around $2.66 million at a price of $0.93 each. The altcoin, associated with metaverse-related infrastructure, has seen rising interest thanks to renewed speculation around virtual economies.
The same whale also scooped up 1.48 million WLD tokens, spending $1.73 million at an average of $1.02 per token. Worldcoin has remained a hot topic due to its ambitious identity-verification goals tied to AI-driven platforms. Whale accumulation here suggests growing belief in the project’s long-term utility.
Meanwhile, a much larger but lower-value transaction involved 6.47 million GAME tokens, acquired for just $299,000 at a mere $0.04 apiece. This indicates a possible bet on the gaming sector’s comeback, particularly with Web3 games gaining traction again.
Lookonchain also noted a smaller buy: 303,574 COOKIE tokens worth $40,700, priced at $0.13 each. While not as prominent as compared to the other altcoins, this modest purchase adds weight to the idea that whales are diversifying within small-cap tokens.
How Worldcoin, Virtual, & GAME Tokens Are Performing?
Worldcoin price today rose more than 24% and exchanged hands at $1.17 with its one-day volume rocketing 150% to $481 million. Notably, the crypto has touched a high of $1.19 from a low of $0.95 in the last 24 hours.
Simultaneously, given the whale’s accumulation, the other altcoins also recorded robust rallies today. It also reflects how these whale or large investors’ moves influence the broader market sentiment. VIRTUAL Price recorded a surge of over 34% to $1.10 and its trading volume soared 260% to $511 million.
Meanwhile, GAME price also jumped about 70% to $0.05, accompanied by a rocketing trading volume of 76% to $6 million. With its recent surge, the crypto has added more than 200% in the weekly chart while soaring around 121% over the last 30 days.
Also, the COOKIE price jumped more than 10% and exchanged hands at $0.1420 during writing, reflecting the investors’ shifting focus.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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