Pump.fun has surged to dominate the Solana memecoin launchpad market, increasing its share from 5% to 90% within two weeks, while competitor LetsBonk has seen a significant decline. The shift is attributed to token buybacks and the departure of top memecoin deployers from LetsBonk, prompting speculation about the future strategies of both platforms.

Burwick Law and Wolf Popper have named executives from Solana Foundation, Solana Labs, and Jito as co-conspirators in their expanded RICO lawsuit against Pump.fun. The plaintiffs allege serious financial crimes, including illegal gambling and wire fraud, asserting that the defendants played a direct role in facilitating these activities.

Solana's CEO criticized the growing trend of memecoins and NFTs, referring to them as "digital slop" that dilutes the value of more serious blockchain projects. He emphasized the need for higher quality applications in the cryptocurrency space to attract sustainable investment and innovation.