Pump.fun, a Solana-based meme coin launchpad, has dismissed speculation about an imminent token launch.

On February 9, co-founder Alon Cohen addressed the rumors on X, urging users to rely only on official updates from the team.

Pump.fun Has No Immediate Plans for a Token

Cohen clarified that reports about a potential Pump.fun token are inaccurate. While the platform remains dedicated to rewarding its users, he emphasized that its primary focus over the past year has been on enhancing its product.

“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. While the pump fun team has mainly been focused on improving the product in its 1-year history, the team has always been committed to rewarding its users properly good things take time,” Cohen stated.

Earlier today, rumors of a token launch surfaced on social media after reports suggested that Pump.fun was planning a Dutch auction in partnership with unnamed centralized exchanges. This fueled speculation about a possible airdrop for early adopters.

The reports also alleged that the token would have a total supply of 420 million, with 50% initially unlocked for public sale. However, Cohen’s statement claims these reports were wrong.

Last year, BeInCrypto reported that Pump.fun hinted at launching a native token but did not provide a timeline. The team confirmed that early adopters would receive a share of the token supply as a reward.

However, no further updates have been given about the plan since then.

Growth, Challenges, and Legal Scrutiny

Since its launch in January 2024, Pump.fun has become one of the leading ecosystems in the meme coin market.

Over 7 million tokens have been created on the platform so far, accounting for nearly 50% of Solana’s decentralized exchange trading volume. Data from Dune Analytics shows that Pump.fun has generated more than $500 million in revenue.

However, Pump.fun’s rise has not been without challenges. Last year, the platform faced criticism when its livestream feature was exploited to broadcast disturbing content, including violence and self-harm. In response to public backlash, the company indefinitely suspended the feature.

Regulatory scrutiny has also intensified. The UK’s Financial Conduct Authority (FCA) issued a warning against Pump.fun, citing unauthorized financial promotions. The regulator subsequently blocked access to the platform in the UK.

More recently, Pump.fun was named in a proposed class-action lawsuit filed in a New York federal court.

The plaintiff argues that every token launched on the platform constitutes an unregistered security. The lawsuit also alleges that Pump.fun profited from platform fees while using aggressive marketing tactics that led to investor losses.

Despite these legal and regulatory hurdles, Cohen defended the meme coin platform’s mission.

“The reason why pump.fun is controversial is that it allows anyone to be early, something that used to be reserved for the few,” He stated.

He stated that the platform’s appeal lies in its accessibility, allowing anyone to participate in early-stage token launches—a privilege previously reserved for a select few.

Regardless, the potential misuse and often abuse of this launchpad is difficult to ignore.

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