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Pump.fun’s $4B Token Sale Stumbles Again Amid Lawsuit Turmoil and X Ban Fallout
Few things frustrate crypto investors more than watching their anticipated token sale get pushed back repeatedly. Pump.fun’s much-hyped token launch, originally set for June 25, 2025, has been postponed to mid-July—marking yet another delay in what was supposed to be an early 2025 debut.
Another delay for Pump.fun’s token sale—from June 25 to mid-July, frustrating eager crypto investors once again.
The platform’s troubles extend beyond scheduling hiccups. A class action lawsuit filed by Burwick Law earlier this year alleges Pump.fun operated as an unregistered securities exchange while orchestrating a $500 million pump-and-dump scheme. The lawsuit claims the platform worked with influencers to artificially inflate token values, fundamentally running what prosecutors describe as a pyramid scheme dressed up as a meme coin economy. These serious allegations have attracted regulatory scrutiny from multiple jurisdictions. Adding to the legal headaches, Wolf Popper LLP joined Burwick Law in February to issue cease-and-desist orders over trademark infringements by user-generated memecoins on the platform.
Despite the legal storm clouds, Pump.fun is pushing ahead with ambitious plans to raise $1 billion at a fully diluted valuation of approximately $4 billion. The tokenomics look straightforward: one trillion total tokens, with 250 billion up for sale and another 100 billion earmarked for community airdrops. All tokens will be released immediately after the sale—a double-edged sword offering instant liquidity but potentially sparking volatility.
Market reactions have been mixed at best. While some crypto funds have quietly scooped up token allocations ahead of the auction, retail investors aren’t exactly doing the happy dance. The platform’s recent ban from X (formerly Twitter) triggered a notable selloff in Solana tokens, amplifying concerns about Pump.fun’s future. Pre-launch trading currently indicates a $5.85 billion FDV, suggesting some market participants believe the official valuation may be understated despite the controversies. The platform’s structure raises concerns similar to classic liquidity pulls, where developers can drain trading pools and leave investors holding worthless tokens.
Remember, this is the same platform that generated over $700 million in revenue and launched 11 million tokens in just months—impressive numbers that now feel like ancient history.
The platform plans to share 25% of protocol revenue through buybacks, attempting to create sustainable token value. But with usage declining from its late 2024 peak and legal troubles mounting, many investors are wondering if they should DYOR before jumping in.
The repeated delays, combined with unclear communication from the team, have left the crypto community asking whether this token sale will deliver moon potential or just more disappointment.
