The Solana-based platform Pump.fun has postponed its token sale once more. Initially scheduled for June 25, it is now expected to take place in mid-July 2025.
New Delay of the Token Sale
The token sale for Pump.fun was originally set for June 25 and was intended to raise $1 billion at a $4 billion valuation. It is now expected that the auction will occur in mid-July. This is not the first postponement in the launch process.
Legal Problems Facing Pump.fun
Pump.fun is facing serious legal challenges. In January 2025, a class action lawsuit was filed against the platform, accusing it of violating securities laws and manipulating token prices. The plaintiffs claimed this manipulation led to significant financial losses for investors. The founder of Burwick Law described the platform as "the ultimate evolution of multi-level marketing scams," alleging it targets vulnerable individuals seeking quick profits.
Suspension of Accounts and Additional Challenges
On June 16, the accounts of Pump.fun and its founder on X (Twitter) were unexpectedly suspended but were restored a few days later without explanation. Several other crypto accounts faced suspensions at the same time.
The launch of Pump.fun tokens continues to encounter delays and legal hurdles, casting doubt on the project's future prospects.
