Pump.fun co-founder Alon Cohen dismissed reports that the Solana-based memecoin launchpad is preparing to issue its own native token, refuting claims made by crypto journalist Colin Wu.
Wu reported that Pump.fun was working on a token and planned to distribute it via a Dutch auction system in collaboration with multiple centralized exchanges.
He cited insider sources from these exchanges and claimed his team had obtained documents detailing the token issuance. However, Cohen dismissed the claims in a social media post, stating:
“Seeing rumors about a potential Pump.fun token – these are wrong.”
He emphasized that the company remains focused on improving its platform and fairly rewarding users but did not confirm any token plans.
Despite Cohen’s denial, Wu stood by his reporting, stating:
“It is almost a public fact that Pump.fun plans to issue a token using the Dutch auction inside the CEXs.”
He asserted that his team had obtained official preparation documents and that multiple exchange officials confirmed Pump.fun’s token launch plans, though the timing remained undetermined.
Legal challenges
The debate over a possible token launch comes as Pump.fun faces increased legal scrutiny.
A class-action lawsuit filed in the Southern District of New York alleges that the platform facilitated the sale of unregistered securities, generating nearly $500 million in fees. The lawsuit claims that the platform’s operations violate US securities laws and seeks damages on behalf of affected investors.
In a separate case, Burwick Law and Wolf Popper LLP have sent a cease-and-desist letter to Pump.Fun, demanding the removal of more than 200 tokens that allegedly misuse their intellectual property.
The firms argue that Pump.fun has enabled the creation of tokens impersonating their firms, employees, and clients, which they claim is an attempt to interfere with ongoing litigation.
Cohen has not directly addressed these legal disputes but has maintained that Pump.fun operates within legal boundaries. Meanwhile, industry observers remain divided on whether the rumored token launch is a natural next step for the platform or simply speculation.
