Pump.fun dismisses token launch rumors on heels of lawsuit

The co-founder of Pump.fun has denied rumors in circulation on a future launch of tokens, urging users to ignore information not directly shared by the platform.

The co-founder Alon Cohen, who helped launch Pump.Fun in January 2024, posted on X that his team remains focused on improving products. They also remain determined to “reward users correctly,” he said.

Cohen’s message highlighted the importance of patience, declaring that “good things take time”, while warning against unauthorized affirmations in terms of the platform. This occurs when the platform pays increased attention from merchants and regulators.

The declaration contradicts earlier reports From Crypto Wu Blockchain analyst, who reported Pump.

Speculations on the features of the token included income sharing and exclusive access to the platform for holders.

Pump.fun has established itself as a launch of mismatches of memes prominent on the Solana (GROUND) Blockchain, allowing users to quickly create and exchange tokens. However, the platform faces several legal challenges now.

January 16, Burwick Law and Wolf Popper LLP laid The first major trial against the platform. The trial has alleged violations of American laws on securities thanks to the facilitation of sales of unregistered securities disguised in the same.

The complaint specifically highlighted the case of the peanut token The squirrel token, which would have experienced the inflation of artificial prices through influencer promotions before collapse.

Legal pressure intensified on January 30, with a second trial expanding allegations against Baton Corporation Ltd., the Pump.fun operator and key frames of the platform. These legal actions target what the applicants have mentioned as coordinated price manipulation diets harming retail investors.

The co-founder warning against unauthorized demands occurs when the platform goes through this increased regulatory examination.