Pump.Fun, the leading memecoin launchpad on the Solana blockchain, has again delayed its public token sale, which was initially set for June 25. According to a post on X , the event will occur sometime in July, though a specific date hasn’t been announced. Notably, the team at Pump.Fun has not explained why the sale is postponed, but reports suggest it may be due to ongoing legal issues. This has, however, caused concerns among investors and community members. Meanwhile, the decentralized platform team has not explained the legal issues causing a delay, and has yet to give a new timeline. The Memecoin Launchpad and Legal Pressures In May, it was revealed that 98.6% of the tokens launched on Pump.Fun are linked to scams , such as rug pulls or pump-and-dump schemes. Meanwhile, Pump.Fun’s drop-in token launches came when the launchpad started dealing with legal problems. Law firms have sued the platform on behalf of investors , who allegedly suffered significant losses. The law firm claimed the platform exploited users and allowed harmful content to thrive while profiting from its fees. Recall that another lawsuit dragged the platform to court for impersonation of memecoins . Adding to its woes, Pump.fun’s X official account was hacked, leading to fraudulent token promotion. At the same time, the platform faced backlash over testing its Automated Market Maker (AMM) feature, which could replace Raydium. This move sparked concerns within the community. Pump.fun Maintains Popularity While it remains unclear which tokens, if any, are scheduled for listing, one of the memecoins associated with the lawsuit, DOGSHIT2, has been performing well. As of February 3, the market cap of the memecoin had hit $23 million. The memecoin continues to gain popularity and increase in trading volume. This is as Pump.fun has continued to set new records in the market. How Pump.Fun Operates Pump.fun lets anyone create a memecoin on its platform, and the token prices increase as more people buy in. When the token’s value reached about $100,000, it “graduated” and got listed on Raydium, a decentralized exchange. At this point, Pump.fun added $17,000 in liquidity to keep the tokens stable. The platform burns liquidity provider tokens to prevent sudden crashes and rug-pull scams. For a while, this method caused a big rise in activity. In January, on-chain data revealed that 71,725 tokens were launched on the Pump.Fun in a single day. This came right after President Donald Trump unveiled his memecoin TRUMP following his presidential election in November 2024. The post Pump.Fun Delays Public Token Sale to July Amid Legal Concerns appeared first on TheCoinrise.com .
