Court filings allege that Pump.fun and Jito Labs operated a "digital wagering scheme" for speculative meme coins, designed to be "structurally exploitable" and "rigged." Investors should be highly cautious of meme coin platforms, especially those on the Solana blockchain, as these tokens often become worthless within 24 hours due to rapid dump-and-collapse cycles. This insight highlights the significant regulatory and operational risks associated with certain DeFi platforms.