 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
Cryptocurrency News Articles
Solana SOL/USD-Based Meme Coin Launchpad Pump.fun Hit With Class-Action Lawsuit
Jan 31, 2025 at 02:11 pm
The suit, filed in a New York federal court, named Baton Corporation, a U.K.-registered company, as the owner of Pump.fun.
A class-action lawsuit was filed on Thursday against Solana (CRYPTO: SOL) meme coin launchpad Pump.fun, alleging that all tokens created on the platform are unregistered securities.
The suit, filed in a New York federal court, names Baton Corporation, a U.K.-registered company, as the owner of Pump.fun.
The complaint alleges that the platform earned nearly half a billion dollars in fees by selling "highly volatile unregistered securities."
The plaintiff further accuses Pump.fun of allowing the sale of “worthless” digital tokens in minutes, disregarding basic investor protections, including “Know Your Customer” rules and anti-money laundering protocols.
The lawsuit also claims that the network has no age verification or restrictions in place, allowing anyone to create tokens on provocative themes.
The lead complainant, identified as Diego Angular, claims to have lost money trading Pump.fun meme coins like Fwog (FWOG) and Griffain (GRIFFAIN) and is seeking compensation.
Pump.fun creator Alon Cohen did not immediately respond to Benzinga's request for comment.
The latest legal trouble comes two weeks after a class-action lawsuit was filed against Pump.fun over the sale of the popular Peanut The Squirrel (PNUT) token.
Pump.fun was at the heart of the Solana meme coin mania last year, spawning multi-million dollar coins like PNUT, Fartcoin (FARTCOIN), and MooDeng (MOODENG).
As of this writing, the combined market capitalization of Pump.fun meme coins is nearly $6 billion, according to CoinGecko. Over the last 24 hours, the valuation has decreased by 8%.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
-
- Dogecoin Price Defies Weakness Despite Market Crash, WallitIQ (WLTQ) Wallet Solutions To Redefine Crypto Management And Aid Market Navigation
- Jan 31, 2025 at 07:50 pm
- The Dogecoin price has again captured traders’ attention after showing resilience amid a broader market crash. Crypto analyst Master Kenobi observes that
-
- Coinbase Files for Self-Certification to List Solana (SOL) Futures Contracts on Its Subsidiary Platform, Coinbase Derivatives
- Jan 31, 2025 at 07:50 pm
- The Solana futures market is set to introduce contracts where the standard size is 100 SOL, equating to a value today of $23,700. Additionally, there will be smaller contracts available
-
- Solana ETF Close to Approval, Remittix Presale Surge Heats Up the Altcoin Market
- Jan 31, 2025 at 07:50 pm
- The competition to release the first Solana ETF in the United States is heating up. As we await the approval from the SEC, experts believe Solana ETFs could also have some impact on other altcoins in the crypto space.
-
- Bitwise's Bitcoin and Ethereum ETF Gets the Green Light from the SEC, Signaling a New Era of Faster Approvals
- Jan 31, 2025 at 07:40 pm
- The Wall Street regulator, under Acting Chair and Commissioner Mark Uyeda, said Thursday that it found NYSE's proposal to trade the combined BTC and ETH ETF was "consistent with Section 6(b)(5) of the Exchange Act."
-
-
-
- Ripple’s RLUSD: A New Contender in the Stablecoin Market
- Jan 31, 2025 at 07:40 pm
- RLUSD is a stablecoin created by Ripple that is fully compliant and meets the highest regulatory standards. The company has committed to releasing regular transparency reports that detail the reserves backing RLUSD and the operations underpinning it.
-
