Is Pumpfun Launching a Token?

Alon, the co-founder of Pump.fun, has dismissed circulating rumors about a potential token launch and IPO, calling the reports inaccurate. In a recent post, he emphasized that only official announcements from the Pump.fun X account should be trusted.

"Seeing rumors about a potential Pump.fun token – these are wrong. Would advise not to listen to anything that didn’t directly come from Pump.fun," Alon stated.

He further reassured users that the team remains committed to enhancing the platform and properly rewarding its users. "Good things take time," he added, urging patience amid speculation.

Crypto analyst Wu Blockchain previously reported that Pump.fun was preparing to launch a token via a Dutch auction in collaboration with centralized exchanges. The report suggested that the token would have a total supply of 420 million, with 50% available for public sale at launch.

This fueled speculation about a possible airdrop for early adopters and potential token utility, including revenue-sharing and exclusive platform access. However, Alon’s statement directly refutes these claims, reinforcing that no such plans have been confirmed by the team.

Wu Blockchain Doubles Down

Despite Alon’s denial, Wu Blockchain responded, insisting that Pump.fun was indeed planning a token launch.

"It is almost a public fact that Pumpfun plan to issue token using the Dutch auction inside the CEXs, please don't lie. WuBlockchain Team obtained the detailed coin issuance preparation documents that Pumpfun provided to the CEXs. We can also publish with permission. " Wu Blockchain stated.

According to leaked documents, early investors were expected to receive 22.05% of the token supply, while the team would control 25% with a one-year lockup and gradual monthly releases over the next three years. These claims remain unverified, as Pump.fun has not officially confirmed any such plans.

Pump.fun’s Rising Popularity and Legal Challenges

Since its launch in January 2024, Pump.fun has grown into a dominant meme coin launchpad on Solana, facilitating rapid token creation and trading. 

Over 7 million tokens have been launched, contributing to nearly 50% of Solana’s decentralized exchange trading volume. Data from Dune Analytics estimates Pump.fun’s revenue at over $500 million. However, the platform now faces increasing regulatory scrutiny. 

On Jan. 16, Burwick Law and Wolf Popper LLP filed a lawsuit alleging violations of U.S. securities laws, accusing Pump.fun of facilitating unregistered securities sales disguised as meme tokens. The lawsuit specifically highlighted the case of the Peanut the Squirrel token, which allegedly saw artificial price inflation through influencer promotions before its collapse.

A second lawsuit, filed on Jan. 30, expanded these allegations, targeting Baton Corporation Ltd., Pump.fun’s operator, and key executives. Plaintiffs claim the platform engaged in coordinated price manipulation schemes that harmed retail investors.

Despite mounting legal pressure, Pump.fun remains one of the most active platforms in the meme coin space. 

For now, Alon’s statement serves as a warning to users against misinformation, reinforcing that any official announcements will come directly from the team. Whether a Pump.fun token eventually materializes remains uncertain, but for now, the company stands firm in denying the rumors.