Pump.fun Co-Founder Dismisses Token Launch Rumors
Pump.Fun, a Solana-based Meme Coin Launchpad, has dismissed speculation about the upcoming token release.
On February 9, co-founder Alon Cohen talked about rumors on X, urging users to rely solely on the team’s official updates.
Cohen clarified that reports about the submersible pumps. The graph token is inaccurate. While the platform remains committed to rewarding its users, he stressed that over the past year, its main focus has been on enhancing its products.
“Seeing rumors about the fun tokens of potential pumps – these are all wrong. It is recommended not to listen to anything directly from pump.fun. While the fun pump team is mainly focused on improving the 1-year history of the product, the team has been working on Reward their users for proper good things.” statement.
Earlier today rumor Following the release of tokens that surfaced on social media, reports said pump.fun is planning a Dutch auction with an unnamed centralized exchange. This inspired speculation about the possible airdrops of early adopters.
The report also claims that the total supply of tokens is 420 million, of which 50% are Initially unlocked for public sale. However, Cohen’s statement claims that the reports are wrong.
Last year, Beincrypto reported pump.fun implies that a local token is fired But no timetable was provided. The team confirmed that early adopters will receive a portion of the token supply.
However, since then, no further updates have been made about the plan.
Growth, Challenges and Legal Reviews
Since its launch in January 2024, Pump.Fun has become one of the leading ecosystems in the Meme Coin Market.
So far, over 7 million tokens have been created on the platform, accounting for nearly 50% of Solana’s decentralized transaction volume. From dune Analysis shows that Pump.Fun has revenue of more than $500 million.
However, Pump. Fun’s rise is not without its challenges. Last year, the platform faced criticism Live broadcast functionality is utilized to broadcast disturbing contentincluding violence and self-harm. In response to the public rebound, the company suspended the feature indefinitely.
Regulatory scrutiny has also intensified. Financial Conduct Authority (FCA) in the UK Warn of pump.fun, Citations of unauthorized financial promotion. Subsequently, regulators blocked access to the UK platform.
recent, pump.fun is named in a proposed class action lawsuit Filed in the Federal Court of New York.
Plaintiff argues that every token posted on the platform is unregistered Safety. The lawsuit also claims that the pump. FUN profited from platform fees while using aggressive marketing strategies, resulting in investors’ losses.
Despite these legal and regulatory barriers, Cohen defended the mission of the meme coin platform.
“The reason why the pump. Fun is controversial is that it allows anyone to get early, which was once reserved for a few people,” he statement.
He noted that the platform’s appeal was in its accessibility, allowing anyone to attend an early token launch, a privilege for a few previously reserved.
In any case, it is difficult to ignore potential abuse and abuse of this launch pad.
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