Legal Storm Forces Pump.fun to Delay Billion-Dollar Token Sale
- The Pump.fun token sale, originally set for June 25, has been postponed to mid-July.
- The delay comes as the platform faces a class-action lawsuit alleging it is a “pyramid scheme.”
- The platform was also recently subjected to a temporary suspension from X (formerly Twitter).
The Solana-based memecoin launchpad Pump.fun has pushed back its highly anticipated public token sale to mid-July. The delay follows a series of postponements and comes as the platform contends with a growing storm of legal challenges, including a class-action lawsuit that alleges market manipulation and intellectual property violations.
Initially, the Solana-powered platform had aimed to launch a public auction on June 25, targeting a $1 billion raise at a projected $4 billion valuation.
Class-Action Lawsuit Alleges ‘Pyramid Scheme’
The delay is the latest in a string of postponements since early 2024. According to Colin Wu on X, the company did not provide a new date or specific reason for the shift. Users and investors have voiced frustration over the lack of transparency as the legal and regulatory pressure grows.
The repeated delays are increasingly seen not just as schedulin…
The post Legal Storm Forces Pump.fun to Delay Billion-Dollar Token Sale appeared first on Coin Edition.
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Legal Storm Forces Pump.fun to Delay Billion-Dollar Token Sale
- The Pump.fun token sale, originally set for June 25, has been postponed to mid-July.
- The delay comes as the platform faces a class-action lawsuit alleging it is a “pyramid scheme.”
- The platform was also recently subjected to a temporary suspension from X (formerly Twitter).
The Solana-based memecoin launchpad Pump.fun has pushed back its highly anticipated public token sale to mid-July. The delay follows a series of postponements and comes as the platform contends with a growing storm of legal challenges, including a class-action lawsuit that alleges market manipulation and intellectual property violations.
Initially, the Solana-powered platform had aimed to launch a public auction on June 25, targeting a $1 billion raise at a projected $4 billion valuation.
Class-Action Lawsuit Alleges ‘Pyramid Scheme’
The delay is the latest in a string of postponements since early 2024. According to Colin Wu on X, the company did not provide a new date or specific reason for the shift. Users and investors have voiced frustration over the lack of transparency as the legal and regulatory pressure grows.
The repeated delays are increasingly seen not just as schedulin…
The post Legal Storm Forces Pump.fun to Delay Billion-Dollar Token Sale appeared first on Coin Edition.
Read More
Why Is BONK Up? ETF News Provides a Powerful Catalyst