The article highlights the concerns raised by regulators about the trading volumes of memecoin platform Pump.Fun and similar platforms, warning that they could be Ponzi schemes. It argues that these platforms operate on an exploitative model, where early adopters profit by recruiting new participants. It also discusses the cases of other cryptocurrency Ponzi schemes, such as OneCoin and Thodex, and their devastating effects on investors. The article emphasizes the need for education and regulation to combat the rise of crypto Ponzi schemes and calls for collaboration between governments, crypto platforms, and the community to restore trust in the market. It concludes that the rise of Pump.Fun serves as a cautionary tale and highlights the importance of addressing the vulnerabilities in the cryptocurrency market to create a safer and more transparent ecosystem.



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