Pump.fun's CEO, Cohen, has denied rumors circulating about a potential token launch, Dutch auction, and airdrop. These rumors stemmed from reports by Wu Blockchain, which claimed to have obtained internal documents outlining the token issuance process. Cohen stressed that all reports of a token launch were false and urged users to rely only on official updates. However, Pump.fun continues to face legal challenges, with a recent lawsuit alleging that every token created through the platform qualifies as an unregistered security.
, “Seeing rumors about a potential pump fun token – these are wrong.” He also urged users to rely only on official updates from the team. The executive emphasized that the platform remains focused on improving its services and rewarding users, adding that “good things take time!”from Wu Blockchain, which suggested that Pump.fun was preparing for a Dutch auction in collaboration with unnamed centralized exchanges. This also led to rumors about a potential airdrop for early adopters.
The claims also alleged that the token would have a total supply of 420 million, with 50% available for public sale at release. However, Cohen has denied all these rumors, stating that all reports of a token launch were false. The suit claims that every token created through Pump.fun qualifies as an unregistered security and alleges that the company has generated nearly $500 million in fees from these transactions. A similar case was filed by a different plaintiff just two weeks earlier.over a livestream feature introduced in November 2024. While intended to boost user engagement, the feature was quickly exploited to broadcast explicit and disturbing content. InLast year, the FCA also warned against Pump.
Despite these challenges, activity on the Solana-based meme coin launchpad remains strong. Additionally, Solana continues to lead the retail decentralized exchange market, accounting for 48% of total DEX volume, with nearly 60% of this activityOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.
Pump.Fun Token Launch Legal Challenges Solana Meme Coins
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