✅ Pump.fun’s $4B Token Dreams on Hold Amid Mounting Legal Trouble
Solana-based (SOL) memecoin launchpad is once again facing issues. On Friday, reports emerged that Pump.fun would postpone its public token sale yet again. Originally scheduled for June 25, the platform had planned to raise $1 billion at a $4 billion valuation.
According to crypto news reporter Colin Wu, the team now expects the auction to take place in mid-July. The team stated that planning for the token launch began in 2024 but noted that the launch has already been postponed several times. Pump.fun did not clarify why the latest suspension occurred, but it coincides with mounting legal troubles in several jurisdictions.
Pump.fun’s legal troubles
Pump.fun is facing legal issues in multiple jurisdictions, including a notable class action lawsuit. On Jan. 15, Burwick Law served the platform with a class action suit, accusing it of violating securities laws and engaging in market manipulation.