Memecoin factory Pump.fun has spent the past few days selling something that no longer has anything to do with memecoins: futures contracts on Bitcoin and Ethereum, with leverage of up to 40 times. Anyone trading there is no longer moving play money, but a position that can vanish completely on a price step of a few percent.
The launch came without much announcement, and that is the part that concerns you. The interface has stayed the same, the one used until now to buy memecoins in their first minute of trading. Behind it now runs a derivatives exchange whose rules assume a different audience.
Perpetual futures on Bitcoin and Ethereum: this is what Pump.fun launched
Pump.fun has enabled trading in perpetual futures on Bitcoin and Ethereum inside its app. Trade publication Cryptobriefing dates the move to October 16, 2026 and describes it as an entry into the business of leveraged positions. The provider's product page now carries a market table of its own, with columns for mark price, daily change...
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