Pump.fun Co-Founder Alon Cohen Denies Rumors That Project Is Launching Own Native Token

Pump.fun co-founder Alon Cohen is denying reports that the Solana ( SOL )-based memecoin launchpad will issue its own native token.

Crypto reporter Colin Wu earlier said that Pump.fun is working on launching its own token and plans to use the Dutch auction system in the public offerings. 

Wu said that his team confirmed the information with insiders from multiple centralized exchanges (CEXs) that Pump.fun is purportedly working with to develop the system.

In response, Cohen says on the social media platform X that the speculations are not true. He also tells his followers not to believe in anything that did not directly come from Pump.fun.

“Seeing rumors about a potential pump fun token – these are wrong…

While the Pump.fun team has mainly been focused on improving the product in its one-year history, the team has always been committed to rewarding its users properly. Good things take time!”

But Wu stands by his report, saying he has proof to support the claim.

“It is almost a public fact that Pump.fun plan to issue token using the Dutch auction inside the CEXs…

Wu Blockchain Team obtained the detailed coin issuance preparation documents that Pump.fun provided to the CEXs. We can also publish with permission. 

The listing staff of multiple exchanges also confirmed to us that Pump.fun plans to issue a token. But the time is indeed not determined.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix

Featured Image: Shutterstock/Zaleman/Sensvector