Pump.fun’s co-founder Alon Cohen has dismissed speculation about an upcoming PUMP token launch. The development comes as the platform is facing a potential class-action lawsuit for the alleged sale of unregistered securities. Cohen addressed the rumors on X, stating, “Seeing rumors about a potential pump fun token – these are wrong.” Pump.fun is currently facing a proposed class action lawsuit accusing the platform of securities violations. The suit claims that every token created through Pump.fun qualifies as an unregistered security and alleges that the company has generated nearly $500 million in fees from these transactions.
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