Pump.fun Delays $1 Billion Token Sale to Mid-July Amid Legal Issues

The launch of Pump.fun, a Solana-based memecoin launchpad, has been postponed from June 25 to mid-July. The project aimed to raise $1 billion at a $4 billion valuation but has faced delays causing frustration among early investors.

Key Points

The token sale is now expected in mid-July, with no clear reason for the delay.
Investors are expressing concerns about communication from the core team.
A class action lawsuit filed by Burwick Law accuses Pump.fun of operating as an unregistered securities exchange and misleading retail investors.
Trademark claims have led to cease-and-desist orders against user-generated memecoins on the platform.
On June 16, multiple official X accounts associated with Pump.fun were suspended without explanation, raising questions about possible external pressures.