Accused | Crypto

A Pump.fun class action lawsuit has alleged that the Baton Corporation founders, Solana Labs, Solana Foundation, and Jito Labs have run a racketeering scheme, branding risky token launches as ‘fair’, taking $722 m while retail traders have lost up to $5.5 bn, and minors have traded without verification. The post Pump.fun Accused of Running ‘Unlicensed Casino’ in $5.5B Class Action Lawsuit appeared first on Cryptonews.

Pump.fun has sold millions of SOL for $741M while only 293 of 13.55 M wallets have exceeded $1M in gains. The Solana memecoin launchpad now faces backlash over alleged scam activity and harmful livestreams as X suspends its account ahead of a planned $1B token issuance at a $4B valuation. The post Pump.fun Accused of ‘Stealing’ $741M in Fees as Critics Call Platform a ‘Disease’ appeared first on Cryptonews.