Ending cycle of PUMP -> starts as a Solana memecoin trader -> gets rugged, honeypotted, drained like everyone else -> realizes launches are unfair and insiders always win -> decides the system itself is broken -> teams up with Noah Tweedale and Dylan Kerler -> registers Baton Corporation in the UK -> simple idea make launching a token stupidly easy -> September 2023 -> domain http://pump.fun quietly registered -> January 19, 2024 -> Pumpfun launches on Solana -> bonding curves + instant liquidity -> anyone can mint a token in seconds -> thousands of tokens appear -> then hundreds of thousands -> then millions -> most die instantly -> some graduate to Raydium -> all generate fees -> Q1 2024: $2.4M revenue -> Q2 2024: $47M revenue -> memecoins become Solana main activity -> summer 2024 -> livestreams launch -> UK regulator steps in -> UK users banned -> growth continues elsewhere -> end of 2024 -> 3M+ tokens created -> critics call it a casino -> supporters call it free markets -> Alon calls it internet capital markets -> 2025 numbers go parabolic -> $500M+ yearly revenue -> $80B+ DEX volume -> 6M tokens created -> most never graduate, fees keep printing -> users start asking questions -> where’s the airdrop? -> OG traders feel ignored -> July 2025 -> token PUMP launches -> $600M raised in 12 minutes -> $1.3B total raised -> buybacks announced -> airdrop promised -> late 2025 -> massive USDC transfers to Kraken -> Alon goes silent on X after Nov 8 -> Pumpfun revenue crosses $870M -> still no airdrop -> internet capital markets or biggest casino crypto has ever built?(Justin Wu)