Pump.Fun’s $4B Dream DELAYED: Legal Troubles Spoil Token Sale

by

Ah, the sweet scent of memecoins wafts through the air once more, as Solana-based launch platform Pump.fun 💸💸💸 postpones its token sale for the umpteenth time. Originally planned for June 25, the sale was meant to raise a cool $1 billion at a $4 billion valuation. But alas, mid-July is now the new target.

Exclusive: The Pumpfun token auction and listing, originally scheduled for June 25, has been postponed again and is now expected to take place in mid-July.

Sources familiar with the matter disclosed that since Pumpfun began planning to issue and auction tokens late last year,…

— Wu Blockchain (@WuBlockchain) June 20, 2025

This isn’t the first time the launch has been delayed, as the project has pushed back its launch multiple times since it began planning in 2024. Pump.fun hasn’t given a clear reason for this latest delay, but it’s happening while the company is dealing with serious legal problems.

Pump.fun is currently dealing with serious legal challenges. In January 2025, a class action lawsuit was filed against the platform by Burwick Law. The lawsuit accuses Pump.fun of violating securities laws and manipulating token prices to benefit the team behind the project. According to the legal filing, this manipulation led to heavy financial losses for many investors.

Max Burwick, the founder of the law firm, even described Pump.fun as “the ultimate evolution of multi-level marketing scams”. He claimed the platform targets vulnerable people looking to make money quickly.

Another legal complaint came in February, when Burwick Law and Wolf Popper LLP sent a cease and desist letter. They said that many memecoins on the platform were using copyrighted logos and names without permission.

On June 16, Pump.fun and its founder’s X (Twitter) accounts were suddenly suspended. They were restored a few days later, but no reason was given. Several other crypto accounts were also suspended around the same time.

Read More

2025-06-20 20:04