Fomo co-founder Se Yong Park denied rumors that the social trading app would launch its own token platform on Solana or compete directly with Pump.fun, citing an already saturated token market. Instead, Fomo aims to build strong trading communities and relies on fee-based revenue from trading activity rather than token sales. The app, valued at about $550 million after a $75 million Series B funding, offers copy trading and real-time feeds primarily on Solana but plans to expand cross-chain. This strategic choice highlights Fomo's focus on trading experience over token creation, maintaining neutrality and avoiding conflicts of interest seen in token launch platforms like Pump.fun.
Fomo co-founder’s market stance comes as only 6 of 50 major cryptocurrencies on Pluang rose today. For readers following crypto markets, here is Pluang's snapshot as of Oct 25, 2026 18:31 WIB: ONE (Harmony) traded at Rp23 with a 1-day change of -4.47% and a Pluang order activity split of 37% Sell / 63% Buy, VET (VeChain) at Rp121 with -4.28% and 68% Sell / 32% Buy, and SAND (The Sandbox) at Rp870 with -4.23% and 55% Sell / 45% Buy. Typical hold times ranged from 124 to 153 days across these assets.
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