Thomas Daniels
Co-Founder of Pump.fun Responds to Token Launch Rumors
Pump.fun co-founder Alon Cohen has brushed off rumors of an impending token launch and advised users to only trust the platform’s official comments. Cohen reiterated in a post on X that the group is still committed to improving its offerings and making sure users receive just compensation.
While warning against false information on the platform’s future plans, Cohen emphasized the importance of patience and said that “good things take time.” His comments are in direct opposition to a previous report by cryptocurrency analyst Wu Blockchain, which stated that Pump.fun was working with centralized exchanges to prepare a token launch based on Dutch auctions. According to reports, the cryptocurrency might offer investors exclusive platform advantages and revenue-sharing capabilities.
Legal Difficulties Pump.fun mount
Pump.fun has become well-known as a Solana blockchain meme coin launchpad that allows users to quickly generate and exchange tokens. But the platform is currently facing serious legal challenges.
Burwick Law and Wolf Popper LLP filed a lawsuit on January 16th, claiming that Pump.fun violated U.S. securities laws by facilitating the sale of unregistered securities masquerading as meme tokens. Peanut the Squirrel, a token purportedly manipulated through influencer-driven hype prior to its value collapsing, was highlighted in the lawsuit.
On January 30, legal pressure increased even more when a second lawsuit expanded the accusations against key executives and Baton Corporation Ltd., the parent company of Pump.fun. Plaintiffs claimed that the platform had harmed ordinary investors through concerted price manipulation techniques.
Cohen’s adamant opposition to unapproved rumors in the face of these regulatory obstacles indicates that Pump.fun is putting stability first in the face of growing scrutiny.
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