Alon Cohen from Solana-based memecoin launchpad Pump.Fun officially dismissed all reports regarding the company’s plans to introduce a native token. Cohen made this denial after crypto journalist Colin Wu reported that the platform would distribute tokens through a Dutch auction method.
Conflicting Claims
Cohen denies the rumors but Wu stands by his argument through his insider information and documents reportedly obtained from centralized exchanges. The journalist reports that the token launch remains close to being openly known despite having unclear timing information.
Legal Pressures
Pump.Fun operates under multiple legal challenges with a class-action lawsuit that was filed in the Southern District of New York. The legal complaint states that Pump.Fun helped broker unregistered securities deals which brought in fees that exceeded $500 million. Several law firms have issued demands to delete tokens possessing intellectual property violations.
Platform Response
As Pump.Fun’s legal compliance officer Cohen dedicated his time to platform development and user reward systems. Furthermore, Cohen avoids commenting on active legal disputes regarding the platform. This lead industry experts to debate the platform’s future direction.
Launch Speculation
The dispute between Cohen’s refusal and Wu’s statements continues to play out against an increasing legal battle. This has lead to doubt about both Pump.Fun’s business strategy and compliance with regulations.
