Pump.fun’s latest delay has rattled its backers. The Solana‐based memecoin launchpad was set to raise $1 billion at a $4 billion valuation on June 25. Now, the team says the sale will slip into mid‑July.
There’s no clear reason for the hold‑up, and users are on edge. Investors who queued up months ago are left wondering if they’ll ever see a token in their wallets.
Token Sale Pushed Into Mid‑July
According to reports on June 20, Pump.fun first hinted at raising $1 billion at a $4 billion valuation. The sale was supposed to start on June 25. Instead, the launchpad now aims for mid‑July. That’s at least a 10‑day shift, and possibly longer.
Users who planned around the June date have to sit tight again. Frustration is growing in online chat groups, where some members point fingers at the core team for poor communication.
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,… pic.twitter.com/UD0xIb45FA
— Wu Blockchain (@WuBlockchain) June 20, 2025
Lawsuit Accuses Platform Of Securities Violations
On January 15, Burwick Law filed a class action lawsuit against Pump.fun. The complaint alleges the platform acted as an unregistered securities exchange. It also claims that Pump.fun pumped token prices to lure in retail investors.
According to the complaint, many users saw their holdings plunge in value after the hype died down. Max Burwick, the firm’s founder, called the platform “a modern pyramid scheme dressed as a viral meme economy.”
Trademark Claims Lead To Cease‑And‑Desist
Based on reports from February, Burwick Law teamed up with Wolf Popper LLP to issue a cease‑and‑desist order. They argue that several user‑generated memecoins on Pump.fun infringe on trademark rights.
That move opened another front of legal risk. Projects tied to big brands or franchises suddenly faced takedown notices. Pump.fun says it’s beefed up its legal team, but it hasn’t shared details on how it plans to settle trademark disputes.
IT’S NOT JUST PUMP FUN!
Major CT suspensions (Ongoing Tracker)
Here’s what we’ve got so far
GMGN-Linked Accounts@gmgnai @haze0x — Founder@arthur_gmgn — Co-founder@Ga__ke — Affiliate (?)@brc20niubi — Affiliate@Wolfy_XBT — Affiliate@0xcryptowizard — Affiliate… pic.twitter.com/u5WbYP3rJD
— Øtto
(@0xottoman) June 16, 2025
X Account Suspensions Raise Eyebrows
On June 16, Pump.fun’s official X accounts were locked without warning. An X user known as Otto logged more than 30 profiles that went dark, including handles linked to GMGN and Bloom trading groups. The accounts came back online after a few days, but no one got an explanation.
Some users suspect a regulator asked for the takedown. Others think it was trademark owners flexing their muscles. Either way, the episode fed more chatter about external pressure on the platform.
Featured image from Pexels, chart from TradingView
Credit: Source link
