Pump.fun Co-Founder Dismisses PUMP Token Launch Speculation

Pump.enjoyable’s co-founder Alon Cohen has dismissed hypothesis about an upcoming PUMP token launch.

The event comes because the platform is going through a possible class-action lawsuit for the alleged sale of unregistered securities.

Token Launch Rumors

Cohen addressed the rumors on X, stating, “Seeing rumors a few potential pump enjoyable token – these are flawed.” He additionally urged customers to rely solely on official updates from the staff. The chief emphasised that the platform stays targeted on bettering its companies and rewarding customers, including that “good issues take time!”

His response adopted reports from Wu Blockchain, which steered that Pump.enjoyable was getting ready for a Dutch public sale in collaboration with unnamed centralized exchanges. This additionally led to rumors a few potential airdrop for early adopters.

The publication claimed to have obtained inner paperwork outlining the token issuance course of. It additionally said that the timing of the discharge had not been finalized, citing authorized challenges confronted by the Solana-based meme coin maker.

The claims additionally alleged that the token would have a complete provide of 420 million, with 50% accessible for public sale at launch. Nevertheless, Cohen has denied all these rumors, stating that each one stories of a token launch had been false.

Authorized Challenges

Pump.enjoyable is at present facing a proposed class motion lawsuit accusing the platform of securities violations.

The swimsuit claims that each token created via Pump.enjoyable qualifies as an unregistered safety and alleges that the corporate has generated almost $500 million in charges from these transactions. The same case was filed by a unique plaintiff simply two weeks earlier.

Past its authorized troubles, the platform has additionally handled controversy over a livestream function launched in November 2024. Whereas supposed to spice up consumer engagement, the function was rapidly exploited to broadcast express and disturbing content material. In response to public backlash, Pump.enjoyable shut down the operate, leading to a decline in income.

Final yr, the FCA additionally warned in opposition to Pump.enjoyable, stating that it could be offering or selling monetary companies or merchandise with out correct authorization. In consequence, the corporate was pressured to dam entry to its companies for UK customers.

Regardless of these challenges, exercise on the Solana-based meme coin launchpad stays sturdy. Moreover, Solana continues to steer the retail decentralized alternate (DEX) market, accounting for 48% of whole DEX quantity, with almost 60% of this exercise driven by Pump.enjoyable.