The Pumpfun token auction and its exchange listing, which garnered significant attention in the cryptocurrency market, have been postponed once again. The event, initially planned for June 25, has now been moved to mid-July.
History of the Pumpfun Auction
The initial token issuance plan for Pumpfun was introduced late last year. However, the event has faced numerous delays since. The anticipated auction valuation is reportedly around $4 billion. The Pumpfun team is also in the process of selling token allocations to various crypto funds.
Legal Issues Faced by Pump.fun
The company is under significant legal pressure. In January 2025, the law firm Burwick Law filed a class action lawsuit against the platform, alleging that Pump.fun violated securities laws and manipulated token prices. These manipulations allegedly caused serious losses for many investors.
Expert Opinions on the Situation
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. A cease-and-desist letter sent in February by Burwick Law and Wolf Popper LLP stated that many memecoins listed on the platform used copyrighted logos and names without permission.
The situation around Pumpfun remains tense, and this latest delay raises questions about the future of the platform and its ability to address existing legal challenges.
