Shaw: Smart contracts should be open source to ensure fund security, and their reverse engineering is for the public interest.

Shaw, co-founder of ai16z, responded to Pump.fun's infringement allegations, stating that smart contracts are on-chain bytecode accessible to anyone, and that the reverse engineering was for public interest, not profit. Shaw believes closed-source contracts pose extremely high risks, resulting in the theft of approximately $40 million in user funds over the past year, and urged Pump.fun to proactively open-source to improve security. Previously, on October 29th, Pump.fun's parent company, Bracket Company Inc., issued a cease and desist letter to Shaw through the law firm Brown Rudnick.