The lawsuit against the memecoin launch platform Pump.fun, Solana Labs, the Solana Foundation and Jito was amended to include new evidence over MEV trading practices. A US court is once again being asked to weigh in on maximal extractable value practices after a judge allowed new evidence to be added to a class-action lawsuit tied to a memecoin platform. The judge granted a motion to amend and refile to include new evidence a class-action lawsuit against memecoin launch platform Pump.fun, the maximal extractable value (MEV) infrastructure company Jito Labs, the Solana Foundation, which is the nonprofit organization behind the Solana ecosystem, and others. The motion said over 5,000 pieces of evidence in the form of internal chat logs were submitted by a “confidential informant” in September that were previously unavailable. The filing said: Read more
The Pump.fun co-founder disputed claims of a massive off-ramp and said Pump.fun’s USDC shifts were routine treasury operations. Pseudonymous Pump.fun co-founder Sapijiju rejected claims that the project cashed out more than $436 million in stablecoins, calling the allegations “complete misinformation” from the blockchain analytics firm Lookonchain. In an X post, Sapijiju addressed the report, insisting that none of the transferred funds were sold. He said the USDC originated from the PUMP token’s initial coin offering (ICO) and was simply redistributed to internal wallets as part of the company’s treasury management process. “What’s happening is a part of Pump’s treasury management, where USDC from the $PUMP ICO has been transferred into different wallets so the company’s runway can be reinvested into the business,” Sapijiju. “Pump has never directly worked with Circle.” Read more
A decline in speculative crypto investor appetite has seen Pump.fun’s revenue fall by 50% since October, raising concerns about incoming selling pressure. Memecoin launchpad Pump.fun has reportedly cashed out more than $436 million in stablecoins since October’s record crypto market crash throttled trading activity and slashed the platform’s monthly revenue. Since Oct. 15, the Solana-based memecoin launchpad transferred $436 million in USDC (USDC) stablecoins to cryptocurrency exchange Kraken, signaling the platform’s operators were cashing out, according to blockchain data platform Lookonchain. Pump.fun began transferring millions in stablecoins to the exchange a week after the record $19 billion October crypto market crash had cut speculative appetite among memecoin investors. Read more
Pump.fun has acquired the Padre trading terminal to strengthen token liquidity as Solana’s memecoin market cools from its 2024 highs. Solana-based memecoin launchpad Pump.fun has acquired the Padre trading terminal for an undisclosed amount, signaling the network’s continued expansion into a sector that has cooled significantly since its peak craze in 2024. Pump.fun announced the acquisition on X on Friday but did not disclose financial details. The company said the move aims to enhance liquidity for tokens on its platform, noting that trading terminals are key to driving higher trading volumes. Pump.fun described Padre as offering a strong user experience, cashback rewards, competitive fees and dedicated trader support. Read more
Pump.fun has acquired the Padre trading terminal to strengthen token liquidity as Solana’s memecoin market cools from its 2024 highs. Solana-based memecoin launchpad Pump.fun has acquired the Padre trading terminal for an undisclosed amount, signaling the network’s continued expansion into a sector that has cooled significantly since its peak craze in 2024. Pump.fun announced the acquisition on X on Friday but did not disclose financial details. The company said the move aims to enhance liquidity for tokens on its platform, noting that trading terminals are key to driving higher trading volumes. Pump.fun described Padre as offering a strong user experience, cashback rewards, competitive fees and dedicated trader support. Read more
Four.Meme has surpassed rival Pump.Fun’s daily revenue in the past 24 hours was $1.4 million, compared to the latter’s $885,000. Key takeaways: FORM eyes a 40% upside toward $2 as its ascending triangle pattern strengthens amid booming BNB meme activity. Four.Meme’s daily revenue surpasses Pump.fun, with roughly 70% of its traders now in profit. Read more