Fomo co-founder rules out new token or Pump.fun rival, citing a market already flooded with coins

Fomo is not getting into the token factory business. On October 25, 2026, Se Yong Park, co-founder of the social trading app fomo, pushed back on rumors that the company planned to launch a Solana-based token platform or take on Pump.fun directly. His reasoning was simple: the market already has too many tokens. What Park actually said Park’s comments targeted two specific rumors. The first was that fomo would roll out its own token launch platform on Solana. The second was that it intended to compete head-to-head with Pump.fun, the chain’s best-known memecoin launchpad. He denied both. According to Park, fomo’s core mission is helping strong trading communities grow, not minting fresh coins. The numbers behind fomo Fomo is not a scrappy side project. The app debuted roughly in May 2025 and was founded by former members of the dYdX team, the group behind one of crypto’s better-known derivatives exchanges. In June 2026, fomo raised $75 million in a Series B round. That deal valued the company at approximately $550 million. That model leans heavily on the social side of trading. Fomo offers copy trading, which lets users mirror the moves of other traders. It also runs real-time feeds...