Pumpfun Token Rumors Spark Debate as Legal Troubles Mount
Pumpfun’s co-founder Alon dismissed speculation about a potential token launch, stressing that no such project is in development and advising users to rely on official sources for information.
He maintained that the platform’s current focus is on enhancements rather than token creation, though he hinted at possible future rewards for users—fueling further speculation.
Despite Alon’s denial, reports persist that Pumpfun is preparing to introduce a token. Crypto Beast suggested that a token named PUMP is imminent, while blockchain analyst Colin Wu claimed that Pumpfun plans to launch it through a Dutch auction, where prices gradually decrease until bids are placed. Leaked documents indicate that discussions with centralized exchanges are already underway to support the rollout.
READ MORE: Binance’s CZ Criticizes Token Listing Process Amid TST Memecoin Surge
Details from internal reports suggest the token’s supply would be 420 million, with 210 million designated for a public sale. The remaining tokens would be distributed among early investors and the development team, both subject to vesting conditions. However, the legal complexities surrounding Pumpfun could affect these plans.
Recent legal actions have added to the uncertainty. U.S. law firms Burwick Law and Wolf Popper LLP have accused Pumpfun of using a controversial token to mislead investors, sending a cease-and-desist letter to the platform. Meanwhile, trading volumes surged, with Uniswap seeing a sharp increase in activity as speculation about a token launch persisted.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
