Auction of Pump tokens.The $4 billion fun is being postponed once again — now it's being postponed to mid-July. This is not the first postponement: the project has been regularly encountering obstacles since last year. This time, there are legal difficulties again.
The Pump command.fun planned to hold the auction at the end of June, but on June 20 it became known about the postponement. The main reason is legal problems, in particular a class action lawsuit from Burwick Law, which accuses the project of violating securities laws. The company's founder, Max Berwick, even named Pump.fun is "the highest stage in the evolution of multilevel marketing fraud."
Despite such accusations, the team continues to sell quotas of tokens to institutional investors, without waiting for a full launch. This causes tension and distrust among retail investors, especially when the official account of the project in X (formerly Twitter) is suspended, and there are no comments from the developers.
The Pump situation.fun has a direct impact on the broader market, especially on assets related to Solana, because the project is based on this particular blockchain. The price of the SOL token has already dropped by -2.7% per day, although trading activity has increased. It is significant that any major delay in such projects causes caution among investors and may temporarily cool interest in the entire sector, for example, in memcoins.
Given the accumulated risks, lack of transparency, and ongoing lawsuits, the project is increasingly raising questions rather than certainty.
Do you think it's worth trusting such projects at all now, or is it better to stay away until the situation is clarified?
