Pump.fun founder calls for memecoin guardrails amid ‘Libragate’

Pump.fun founder Alon has called for new guardrails for token launchpads following the $4 billion collapse of the LIBRA memecoin, which he described as an "insider scam." The LIBRA token, briefly endorsed by Argentine President Javier Milei, saw over $107 million siphoned from its liquidity pool shortly after launch, leading to a significant market cap loss. Alon emphasized the need for user education and safer trading practices to protect against similar incidents in the future.