Overview

• In a July 27 exchange on X with Jesse Pollak, Anatoly Yakovenko dismissed memecoins and NFTs as having no intrinsic value, likening them to loot boxes in free-to-play games.
• Data from Syndica shows meme-based projects made up over 60% of Solana’s dApp revenue in June, contributing to a record $1.6 billion haul in the first half of 2025.
• Launchpad Pump.fun alone generated $776 million from nearly 12 million tokens, highlighting Solana’s heavy reliance on speculative token launches.
• Yakovenko’s remarks prompted criticism from developers and industry figures who argue the network’s growth would not have been possible without meme-driven activity.
• The clash between Solana leadership’s skepticism and the financial benefits of hype-fueled tokens has intensified debate over the sustainability of the platform’s speculative growth model.