The co-founder of the pump refused to broadcast rumors about the upcoming token launch, urging users to disregard the information not shared directly by the platform.
Co-founder Elon Cohen, who helped launch the pump in January 2024, posted on X that his team focuses on product improvement. They are also committed to “to reward users properly”, he said.
Cohen’s message warned against unauthorized claims about the plans of the forum, “take time to good things,” said, emphasized the importance of patience. This comes when the platform passes carefully from both traders and regulators.
The statement first contradicts Reports Crypto analyst Wu Blockchain, who reported the pump.
Speculation about the characteristics of tokens included revenue sharing and exclusive platform access to holders.
Pump.fun has established itself as a major meme coin launchpad on Solna blockchain, allowing users to make and trade tokens. However, the platform is now facing many legal challenges.
On 16 January, Bervik Law and Wolf Popper LLP filed the first major case against the stage. The lawsuit disguised violations of US securities laws as a meme token through the facility of selling unregistered securities.
The complaint specifically highlighted the case of peanut the squirrel token, which allegedly experienced artificial value inflation through impressive promotion before a collapse.
On January 30, legal pressure intensified, with a second case, Baton Corporation Limited, Operator of Pump. Fun, and expanded allegations against major forum officials. These legal actions target what the plaintiff has mentioned what a coordinated price manipulation schemes that harm retail investors.
The co-founder’s warning against unauthorized claims comes when the platform undergoes this increased regulatory investigation.
