Latest news with #AlonCohen
Yahoo
4 days ago
- Business
- Yahoo
Pump.fun token sheds another 15% as co-founder curbs airdrop hopes
investors hoping to recoup losses with another airdrop from the memecoin factory have had their hopes dashed. At least, for now. On Wednesday, Alon Cohen, the co-founder of confirmed that the project will indeed dish out more tokens, but 'it will not be taking place in the immediate future.' Investors responded in force. The PUMP token has retreated by more than 15% over the past 24 hours. The news comes fast on the heels of the project's controversial initial coin offering on July 12. may have raised nearly $600 million in minutes during its highly anticipated ICO, but many remaining holders are even further in the red this week. That's because PUMP has now fallen to $0.003, some 25% off its July 12 listing price, according to CoinGecko. Investors who may have hoped to cash in on the industry's first major ICO in more than seven years have been left disappointed. 'Pump certainly is not fun,' quipped Piers Kicks, a founding partner at Delphi Ventures, on X. Ironically, the blowback comes as the memecoin market's value is finally creeping back up amid wider investor enthusiasm. The niche has more than doubled over the past 30 days to just under $76 billion, which is still 45% below its January high, according to CoinMarketCap. So, what's dragging PUMP? 'Awful optics' raised an additional $720 million by selling another block of tokens to private investors, which has led some to blame the deal's structure for PUMP's poor price performance. These investors were allowed to sell their holdings on the open market days after the offering. 'Clearly, this is just max extraction,' McKenna, a pseudonymous partner at venture firm Arete Capital, said on X. 'The team allowed all of this with zero vesting. Didn't expect the above, but it leaves with awful optics going forward.' Cohen did not immediately return a request for comment. What's more, the heavy bleeding couldn't be stymied by the aggressive buyback programme to prevent precisely this outcome. On July 16, it bought roughly three billion PUMP tokens. Typically meant to signal longer-term confidence in an asset, the token briefly surged by roughly 20% before continuing its downward trajectory. $775 million in revenue allows anyone to create their own cryptocurrency with just a few clicks and then promote the token via a built-in video streaming function on the platform. Since its launch in 2024, the project has generated over $775 million in revenue and launched nearly 12 million memecoins, according to onchain data. Along the way, however, it's also faced its fair share of controversy. In one dark episode, a user recorded his alleged suicide as a marketing stunt to promote his cryptocurrency. A DL News investigation later revealed that the suicide was a hoax, and briefly suspended the streaming function as a result. Meanwhile, other token launchpads have eaten up market share. LetsBonk, a launchpad backed by the BONK memecoin community, now commands over 60% of the niche since its launch in April. Other investors have also leapt into projects far outside the realm of memecoins, namely the decentralised derivatives exchange Hyperliquid. The DeFi project also distributed more than $1 billion in HYPE tokens to early users and deployed a similar buyback program earlier on. The results, however, have been very different. The HYPE token has soared more than 14% in the last month, according to CoinGecko. When airdrop? holdouts still remain, of course. After all, the project promised free tokens 'soon' for users on July 9. But, given Cohen's latest comments, the only question now is: When exactly is soon? Liam Kelly is a Berlin-based reporter for DL News. Got a tip? Email him at liam@ Sign in to access your portfolio
Fast Company
20-06-2025
- Business
- Fast Company
How UFC is employing AI to elevate the fan experience—and give its own workers a leg up on the competition
Action in a UFC mixed martial arts bout is nonstop, so it's easy to miss details when you're watching it live. Fans might not notice how fighters are feinting, changing their in-match strategy, or building up for a big finishing move. UFC has turned to AI to help viewers keep up with every move in real time. At the recent Think Conference hosted by IBM, Alon Cohen, senior vice president of research and development at UFC, spoke with Stephanie Mehta, CEO and chief content officer of Mansueto Ventures (parent company of Fast Company). The pair discussed how AI is rapidly changing sports entertainment by increasing engagement through unique insights and analysis, as well as how other organizations can harness the technology. Here are three takeaways from their discussion. (Some quotes were edited for clarity and length.) 1. AI helps to tell a better story. When punches, kicks, and takedowns are flying, UFC fans likely aren't focused on counting hand strikes or tracking who has taken positional control on the ground. Capturing that information in real time is no easy task. That's where UFC Insights Engine —a generative AI platform developed collaboratively by UFC and IBM using Watsonx technology—comes in. The platform captures live fight data and translates it into clear analytics, statistical insights, and narratives. This allows fans to better understand rivalries, interpret judging decisions, and gauge who has the upper hand. AI-generated insights are displayed during live broadcasts, on social media, and at event venues, making fights easy to follow, even for casual viewers. 'It drives storylines that are at the core of the most important product that UFC makes,' Cohen said. By delivering expert-level analysis—supported by statistics and AI generated commentary—the UFC Insights Engine contextualizes the action, providing narrative context that reveals what exactly is at stake. Turning raw data into compelling stories helps demonstrate an underdog's comeback, the return-to-form of a long-injured competitor, or the key moments that might shape an aging fighter's legacy. These stories help engage viewers and keep them returning. 2. Workforces need space and time to explore AI technology. While AI is elevating the UFC fan experience to a new level, it's also transforming the work of UFC employees themselves. 'Everybody who is in a proactive role at work has a long hopper of things they wish they could get to,' Cohen said. AI technology is known to help businesses boost efficiency and improve productivity to unlock new areas of growth. But UFC understood that taking a haphazard approach to incorporating it can leave employees as dazed as a post-bout fighter. Cohen pointed out why organizations should take a measured approach to AI rollouts. First, he said, leaders need to think about AI as more than just another new tech tool. The process of adopting AI is different, requiring considerable planning and support across the organization. Without such a disciplined approach, companies run the risk of employees becoming frustrated, stressed, or even resentful of the new technology. AI adoption also demands patience. Early in the rollout process, leaders must provide workers with the space required to explore the technology at their own pace and adapt to how it's being used at the company. In time, this experimentation can help employees learn where AI effectively adds value and where manual processes remain the better approach. 'You've got to give them time and resources,' Cohen said. 'You have to make sure that the tone, from the very top, is that it is safe for you to fail.' 3. AI often works best in the background. Whether in the C-suite or the UFC Octagon, adopting new technology can be a bumpy process. The ultimate goal, Cohen said, is to integrate it so seamlessly that it falls into the background. For example, AI helps to make the gameday experience easy for sports fans as they navigate packed stadiums. Dodger Stadium in Los Angeles is reportedly introducing a new free-flow facial authentication system called Go-Ahead Entry—a non-IBM technology—that allows fans to enter the venue without presenting a physical ticket. By registering in advance and submitting a selfie, fans can use a dedicated entry lane for faster, contactless access. Such seamless AI, as Cohen put it, is the kind that will have the biggest impact: 'When you're done, you don't say, 'Wow, gee-whiz, AI!' You just say, 'That experience was so much easier.' '
Arabian Post
17-06-2025
- Business
- Arabian Post
Crypto Platform Pump.fun and Founder Face X Suspensions Amid Memecoin Scrutiny
official X account and that of its co‑founder Alon Cohen have been suspended by X as part of a broader enforcement effort targeting numerous memecoin‑related accounts, according to platform observers. The action, which began on 16 June, affected dozens of handles tied to Solana‑based crypto tools—including GMGN, Bloom Trading, BullX, ElizaOS—and coincided with growing concern over platform manipulation, unauthorised data access and regulatory rumblings. The affected accounts were removed around 19:30 UTC on 16 June, leaving followers unable to access official communications. Platforms such as GMGN and Bloom Trading also noted unexplained suspensions, prompting speculation about an 'internal enforcement sweep' rather than mass reporting. Notably, X has not issued any formal explanation of policy breaches or rule changes that prompted the action. Some within the crypto community suggest the crackdown may stem from unauthorised use of X's API infrastructure. Observers point to tools linked to and others that scrape tweet data or emulate automated trading without premium API access—activities that could trigger platform enforcement. However, neither X nor any of the suspended entities have confirmed such allegations. ADVERTISEMENT The broader context involves mounting regulatory and ethical pressures on the Solana‑based memecoin ecosystem. launched in January 2024 by Alon Cohen, Noah Tweedale and Dylan Kerler, has been prolific in facilitating meme token launches—over 6 million coins had been created via the platform by early 2025, according to Wired. But token launches have grown increasingly controversial. A livestreaming feature, later suspended, was tied to extreme promotional tactics, including staged threats of suicide or violence during broadcasts. Earlier this year, the platform faced a class‑action lawsuit in New York alleging it operated as an unregistered securities offering and facilitated pump‑and‑dump schemes, notably involving a token called PNUT. This suit highlights regulators' concerns that may operate in a legal grey zone. In addition, the UK Financial Conduct Authority warned the platform in late 2024 about offering unlicensed financial services. Market data following the suspensions reveals immediate ripples: within an hour of X account removals, new tokens referencing the bans flooded generating over US $10 million in volume. Five such suspension‑themed tokens ranked among the top‑ten daily by trading volume. Crypto traders and observers are divided. Some see the suspensions as overdue intervention against manipulative tools; others raise concerns about opaque enforcement and potential overreach. Affected platforms, such as GMGN, have assured users that operations remain intact while formal appeals with X are underway. Technical analysis indicates this episode is unlikely to halt memecoin activity. Indeed, pump‑and‑dump cycles continue: behavioural studies show short‑term spikes in token value followed by longer‑term declines averaging 30 per cent over 12 months. In the absence of clear regulation or platform transparency, speculative launches keep drawing liquidity.
Mint
09-06-2025
- Business
- Mint
Pump.Fun's $1 Billion Token Sale Raises Liquidity Concerns for Memecoin Universe
(Bloomberg) -- decision to raise $1 billion is sparking concern that a token sale by the most popular platform for creating memecoins risks siphoning demand away from the hundreds of coins issued daily through the website. The platform, which is based on the Solana blockchain, is still in the early stages of the token offering, according to a person familiar with the plans who asked not to be named discussing private company information, Bloomberg News reported Tuesday. Alon Cohen, co-founder of didn't respond to requests for comment. While details of the sale are not clear, the offering would rank among the largest ever in crypto. The last major token sale was the January debut of the Trump memecoin, which instantly generated billions of dollars in trading volume within a few days. The broader memecoin sector saw a drop in trading when the Trump token was launched, as speculators sold other crypto assets to buy President Donald Trump's official token. 'could be a drain on liquidity,' said Ryan Watkins, co-founder of crypto investment fund Syncracy Capital. 'The raise will take place over the course of a month. And I think during that month, any asset in the Solana ecosystem is vulnerable to being sold to fund that purchase.' which has been compared to the edgy 4chan social media network, allows users to quickly create, promote and sell memecoins, a type of token that has no intended utility but is often associated with jokes, memes and celebrities. The platform has been one of the biggest drivers of the explosive growth in memecoins and the attendant burst in activity on the Solana blockchain in the past year. Retail and professional investors alike have poured billions of dollars into the sector, and their quests for quick profits are seen as generating a lucrative stream of fees for founders. Other market participants also questioned the relatively high valuation of based on the token sale, which is set to be at a $4 billion fully diluted valuation, or FDV. The measure equals the current price times the total number of tokens expected to ever be in circulation. 'I would consider investing at $50 million FDV,' said Christine Fang, managing partner at Hong Kong-based crypto hedge fund PSE Trading. 'Not sure if the $4 billion valuation is justified, especially with the lack of liquidity overall in altcoins.' But with few details about the token sale, others said it's too early to make a conclusion. 'People are overly bearish on this, specifically because they don't know the details,' said Mert Mumtaz, co-founder and chief executive officer of Solana infrastructure project Helius. 'Pump is the main name behind memes today,' Mumtaz added. 'So if they raise a bunch of extra money from investors instead of users, I don't see why they wouldn't invest this money to grow the market beyond what exists today. I mean, their entire business relies on this.' More stories like this are available on
Bloomberg
09-06-2025
- Business
- Bloomberg
Pump.Fun's $1 Billion Token Sale Raises Liquidity Concerns for Memecoin Universe
decision to raise $1 billion is sparking concern that a token sale by the most popular platform for creating memecoins risks siphoning demand away from the hundreds of coins issued daily through the website. The platform, which is based on the Solana blockchain, is still in the early stages of the token offering, according to a person familiar with the plans who asked not to be named discussing private company information, Bloomberg News reported Tuesday. Alon Cohen, co-founder of didn't respond to requests for comment.
