00:00YOU! YOU! YOU! YOU! YOU!
00:02Are 12 year olds really making thousands or even millions off memes right now?
00:06What the heck is going on?
00:08The combination of memes and crypto has always been considered a bit chaotic,
00:11but recently a site came along that pumped up that chaos factor by a lot.
00:16The site is called Pump.Fun, and since its launch,
00:18it's become the new Wild Wild West of the internet,
00:20as users are minting all kinds of weird meme coins
00:23and pumping them with unhinged livestreams and gimmicks,
00:25often resulting in scams, rug pulls,
00:27and a ton of other scandalous events and characters.
00:30Recently, a 13 year old, who the internet has now dubbed the Gen Z Quant Kid,
00:34attempted to rug pull investors in his token by selling it off
00:37at what he thought was a high point.
00:38The livestreaming element of the site also introduced its fair share of chaos
00:41as users performed some rather unhinged acts as gimmicks to pump their coins.
00:45These reached extremes to the point that Pump.Fun
00:48shut down their livestreaming feature on November 25th.
00:50Some users promised sexually explicit reveals of their loved ones on stream
00:54as their coin gained momentum.
00:55Some users went in a dangerous or threatening direction,
00:58like threatening to harm themselves on stream
01:00if their coins didn't reach certain values,
01:01or threatening the lives of goldfish?
01:04One user even faked his own death on stream in an attempt to pump his coin.
