The Pumpfun token auction and exchange listing, which attracted great attention in the cryptocurrency market, has been postponed once again. It was announced that the event, previously planned for June 25, has been moved to mid-July.
According to sources familiar with the matter, Pumpfun’s token issuance and auction plan was first floated late last year. However, the event has been postponed several times since then. The project’s token auction is expected to reach a valuation of around $4 billion. The Pumpfun team is also continuing to sell token allocations to various crypto funds.
However, this latest delay is not a surprise. The company has postponed its launch plans multiple times since 2024. While there has been no clear statement from Pump.fun regarding the delay, it is noteworthy that the delay coincides with serious legal issues.
Pump.fun is currently facing heavy legal pressure. In January 2025, the law firm Burwick Law filed a class action lawsuit against the platform. The lawsuit alleges that Pump.fun violated securities laws and manipulated token prices in favor of the team. This manipulation caused serious losses to many investors.
Max Burwick, founder of Burwick Law, described Pump.fun as “the ultimate evolution of the multi-level marketing scam”, arguing that the platform targets vulnerable individuals looking to make a quick buck.
In a cease-and-desist letter sent in February by Burwick Law and Wolf Popper LLP, it was stated that many memecoins listed on the platform used copyrighted logos and names without permission.
*This is not investment advice.
