From glory to PUMP ICO breaking the issue price: Pump.fun Founder’s interview: “There will be no airdrop in the near future” arouses public anger

As the once most popular token issuance platform in the Solana ecosystem, Pump.fun's image has become difficult for the crypto community to accept, from massive cash-out income to the poor performance after its native token PUMP's TGE. The founder Alon, in a rare interview yesterday, explicitly stated that there would be "no airdrop in the near future," triggering community anger and causing the token price to drop over 13% in a single day. In this crypto KOL ThreadGuy's interview with Pump.fun founder Alon, Alon first positively responded to the airdrop details eagerly anticipated by the community after PUMP TGE: Just like we promised during the TGE, there will be an airdrop. However, we want to ensure that this airdrop is meaningful and proceeds smoothly, so the airdrop will not happen in the near term. He reiterated those words, emphasizing that the team will focus on communication with the community, and specific timelines and details will be released immediately after planning. He also warned that all current online information about the airdrop is fake. Such statements have sparked dissatisfaction among many users. A long-term contributor with trading volume exceeding millions of dollars, @southldnft, criticized: "Hearing they have no airdrop, yet still demanding users continue using the product and support token issuers, I'm completely disheartened." You can't build a platform with the community and then betray their support when it's time to reward them. From that point on, all interviews are just empty talk. We've seen this play out with OpenSea before. The same "just wait a bit, trust us" narrative, and we all know how that turned out. Facing competition from new platforms like LetsBonk, Pump.fun's market share and active wallet numbers have already shown significant decline. Alon described the rise of such platforms as "short-term hype" in the interview, but proposed multiple strategic adjustments, including redesigning Pump Swap 2.0, improving mobile app experience, strengthening live streaming features, and even strategic acquisitions using "team funds". He believes that crypto projects must shift from a "make numbers rise" approach to "fundamental change", and Pump.fun hopes to build more long-term social and creative tools that use tokens to incentivize creators, expand market scale, and regain community passion and trust, which they are currently discussing. Pump.fun's ICO raised $600 million on various exchanges, completing in 12 minutes, and was praised as one of the largest fundraising ICOs with the fastest sell-out, with ongoing community debates about its prospects. However, since the TGE, the PUMP token price has fallen below its initial issue price of $0.04 in less than a month, with a total decline of 41.2%, and even buyback announcements couldn't reverse the trend. Yesterday, it further plummeted 12% following Alon's airdrop response, clearly showing the community has lost confidence. Lookonchain data further indicates that early private investors have already exited at a loss, losing $1.19 million, a 23.8% decline. Crypto KOL @BroLeonAus attributed Pump.fun's cooling down to the founder Alon and team's character: It's not that Pump.fun's product is bad, or its moat isn't deep enough, but Alon's character accelerated PUMP token's collapse. Previously, people might have only seen continuous SOL selling, but recent suspicious operations before and after token issuance have made more people clearly aware of this. He emphasized that besides Alon's ambiguous attitude towards product iteration and community motivation, his every move displays concepts of racial discrimination most despised by Western and American communities, which has deepened external anger and dissatisfaction. In the interview's final part, Alon candidly admitted rarely listening to community ideas and losing sight of the original intention during Pump.fun's rapid growth. He now emphasizes being more proactive in facing the community and establishing a team culture closer to users. However, these statements likely require actions and sincerity, not just words. Moreover, the trust and cultural rift between Alon and users remains uncertain of repair. Risk Warning: Cryptocurrency investment carries high risks, with potentially extreme price volatility. You may lose all your principal. Please carefully assess the risks.

Here is the English translation: US biotech company MEI Pharma (MEIP) officially announced raising $100 million and fully purchasing Litecoin (LTC) as the company's primary reserve asset, becoming the first publicly traded company in the US to list LTC as a corporate financial reserve. They also invited LTC founder Charlie Lee to join the board of directors, with the well-known digital asset market maker GSR responsible for LTC reserve management. MEI Pharma's fundraising was conducted through a private placement, issuing 29,239,767 common shares (or equivalent warrants) at $3.42 per share, raising approximately $100 million, which will be entirely used to buy LTC. Litecoin (LTC) was created by former Google engineer Charlie Lee in October 2011, following Bitcoin (BTC) in 2009. Its key technology modified BTC's original code, reducing block generation time from 10 minutes to 2.5 minutes to improve BTC's slow transaction speed and high fees. Due to LTC's fast transaction speed, low cost, high security, and suitability for daily small payments, it maintains a certain position in the crypto market. Before this article's publication, LTC's market cap was $9 billion. Following MicroStrategy's trend of corporate crypto reserves, many companies are using stock and crypto asset combinations to attract investors. However, past examples show that such crypto concept stocks often experience dramatic initial rises followed by rapid fluctuations. Influenced by the US-Japan trade agreement and potential EU trade agreement, investors continued to optimistically drive stock market growth, with S&P 500 and Nasdaq both reaching new historical highs. The cryptocurrency market dropped 2.36% in 24 hours after a 25% monthly increase. Bitcoin's dominance slightly increased, while XRP and BNB declined after breaking historical highs, with the Altcoin index quickly falling from 51 to 43. Reports suggest the US is about to reach an agreement with the EU to impose 15% tariffs on most products.

US President Trump stated that he will not set tariff rates below 15% when establishing so-called "reciprocal" tariff rates before the August 1st deadline.

We will adopt direct and simple tariffs ranging from 15% to 50%.

The progress of the trade agreement confirmed investors' expectations that Washington would adopt a pragmatic trade policy before tariffs significantly impact corporate profits. The S&P 500 and Nasdaq both hit new all-time highs, with the Dow Jones just 4 points away from its historical peak.

Bitcoin Dominance Slightly Increases, Network-wide Liquidations Reach $742 Million

The cryptocurrency market dropped 2.36% in 24 hours, facing profit-taking pressure after a 25% monthly gain.

Bitcoin's dominance rose to 61.01% (up 1.33% in 24 hours), but declined from 120K to 118K, with over $65.22 million in Bitcoin positions liquidated in 24 hours.

Ethereum was hit hardest, with $157 million in positions liquidated in 24 hours, followed by XRP with $87.16 million. The Altcoin index dropped from 51 to 43 yesterday.

XRP and BNB Break Historical Highs

XRP hit a new all-time high yesterday. Vertical agriculture technology company Nature's Miracle Holding Inc. (OTCQB: NMHI) is establishing a corporate XRP Treasury program up to $20 million, becoming the first XRP reserve strategy company. After hitting an all-time high, XRP plummeted 9.6% to $3.21, with its market value evaporating $18.37 billion amid massive liquidations and the unexpected withdrawal of XRP-related ETF conversions by the SEC.

BNB also reached a historical high of $809 yesterday, reclaiming the top five market cap spot from SOL.