The popular Solana-based launchpad, Pump.fun, has, unsurprisingly, delayed its public token sale once more, keeping everyone guessing. Investors and users have been stuck in limbo for months, as the platform struggles with a whirlwind of lawsuits. It's like déjà vu all over again, right?
Pump.fun was originally gearing up to raise a cool $1 billion at a $4 billion valuation through its token auction, which was scheduled for June 25. But, hold your horses, folks. The sale has been pushed to mid-July, though, of course, they didn’t give us a solid date or, you know, an actual reason for the delay. Classic Pump.fun.
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.
— Wu Blockchain (@WuBlockchain) June 20, 2025
Sources familiar with the matter disclosed that since Pumpfun began planning to issue and auction tokens late last year,… pic.twitter.com/UD0xIb45FA
This delay is just the latest in a series of setbacks that have left backers frustrated and wondering if they’ll ever see that shiny token sale. It’s like waiting for a bus that keeps getting pushed back, except the bus might not even show up.
The Legal Nightmare
But wait, there’s more. Pump.fun is in hot water, legally speaking, thanks to a class action lawsuit filed by Burwick Law back on January 15. The lawsuit claims that the platform’s been acting like an unregistered securities exchange, engaging in price manipulation, and inflating token values. Surprise, surprise. retail buyers are the ones left holding the bag when the hype train derails.
Max Burwick, the founder of the firm, has come out swinging, calling Pump.fun a “modern pyramid scheme” masquerading as a viral meme economy. I mean, when the legal team starts throwing out terms like that, you know things are getting spicy. The lawsuit is pushing for damages and an injunction to stop the “deceptive marketing and trading practices.” Yikes.
And just to pile on, Burwick Law and Wolf Popper LLP also served Pump.fun with a cease and desist order in February, accusing the platform of letting users create memecoins that use trademarks without permission. Because who doesn’t want a lawsuit over trademark infringement, right?
Social Media Drama
As if the legal drama wasn’t enough, things got even juicier when Pump.fun’s official X accounts were suspended on June 16. No reason given, just bam, gone. Was this the work of regulators or just the fallout from all those lawsuits? We’ll never know, because neither X nor Pump.fun would confirm anything. This isn’t the first time crypto startups have faced random suspensions, though, so, yeah, just another day in the life of a crypto project on the edge.
The suspension was eventually lifted, but by then, the rumors were flying. Was it the regulators? Was it the lawsuits? Your guess is as good as mine.
The Legal Team Gets Bigger
In the midst of all this chaos, Pump.fun decided to bulk up its legal team. Maybe that’s their way of saying, “We’ve got this!” or maybe it’s just a PR move to show they’re taking things seriously. Either way, the token sale is still shrouded in mystery, and investors are left twiddling their thumbs.
These repeated delays have ignited debates within the Solana ecosystem about the sustainability and legal risks of rapid memecoin launches. Some industry watchers think the outcome of these lawsuits could set a major precedent for other meme-focused platforms trying to balance viral hype with regulatory compliance. So, if you’ve ever wondered whether this could affect the broader crypto world, the answer is, yeah, it just might.
At this point, it’s hard to say whether Pump.fun will ever pull off that token sale, but I guess we’ll find out, eventually.
Gunel Ismayilova
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