$4B Pump.fun Token Auction Postponed Again After Legal Actions
- Pump.fun auction postponed until July due to legal issues
- Solana memecoin investors face new uncertainty
- Class action lawsuit increases pressure on Pump.fun
Pump.fun, known for its leading role in the memecoin market on the Solana network, has announced yet another postponement for its highly anticipated $4 billion token auction. The new date is now set for mid-July, pushing back the original schedule that had the event scheduled for late June.
The project, which has already been facing delays since last year, is now seeing its operations impacted by increasing legal hurdles. Chief among the problems is a class action lawsuit filed by Burwick Law, which accuses Pump.fun of possible violations of securities laws. Burwick Law founder Max Burwick called the initiative “the ultimate evolution of multi-level marketing schemes.”
Exclusive: The Pumpfun token auction and listing, originally scheduled for June 25, has been postponed again and is now expected to take place in mid-July.
Sources familiar with the matter disclosed that since Pumpfun began planning to issue and auction tokens late last year,… pic.twitter.com/UD0xIb45FA
- Wu Blockchain (@WuBlockchain) June 20, 2025
The rising tension among investors is visible, especially in discussions on platforms like Discord, where the community expresses concerns about the sustainability and legality of the project. In addition, Pump.fun's official account on the X network (formerly Twitter) remains suspended, which reinforces the climate of distrust surrounding the company.
Even in the face of these challenges, the Pump.fun team continues to offer token shares to institutional investors, trying to maintain interest in the project. However, legal uncertainty remains a pressure factor.
The impact of the postponement also affects the Solana (SOL) market. In the last 24 hours, the cryptocurrency registered a drop of 2,70%, trading at around US$ 141, with a 46% increase in transaction volume. This movement reflects the sensitivity of assets linked to the Solana ecosystem in the face of uncertainties involving large-scale projects, such as Pump.fun.
Expectations now turn to the outcome of the legal issues and the new date scheduled for the auction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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