{"id":25550,"date":"2025-07-24T12:56:48","date_gmt":"2025-07-24T09:56:48","guid":{"rendered":"https:\/\/forklog.com\/en\/pump-fun-faces-legal-challenges-and-delays-airdrop-letsbonk-strengthens-position\/"},"modified":"2025-07-24T12:56:48","modified_gmt":"2025-07-24T09:56:48","slug":"pump-fun-faces-legal-challenges-and-delays-airdrop-letsbonk-strengthens-position","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/pump-fun-faces-legal-challenges-and-delays-airdrop-letsbonk-strengthens-position\/","title":{"rendered":"Pump.fun Faces Legal Challenges and Delays Airdrop; LetsBonk Strengthens Position"},"content":{"rendered":"<p>Co-founder of the Pump.fun platform, Allon Cohen, announced that the airdrop will not occur in the near future. In response, the price of PUMP fell by 18.7%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Allon talks about potentially acquiring more companies\/products like KOLscan,<\/p>\n<p>Potentially hinting to acquiring Launch on Pump <a href=\"https:\/\/t.co\/eLRVxIJ8Sc\">pic.twitter.com\/eLRVxIJ8Sc<\/a><\/p>\n<p>\u2014 \u064b (@0xsyste) <a href=\"https:\/\/twitter.com\/0xsyste\/status\/1948117703337652463?ref_src=twsrc%5Etfw\">July 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, the market value of the &#8220;funny coin&#8221; stands at $0.003, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/pump-fun\">CoinGecko<\/a>. Over the week, the PUMP rate has decreased by 42.4%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXe1A39SMIMKF7b4dwETSsXh5jlWjTrWgWojn-H_HPJRopzkrJpxLyJ8mz41M3cDZLb0_FyI5jLl-ZV3IrL6MeKZMvWGLGSndcpS4c8y1WNWqC7vrjenMDUlmuay8ax0yiojT6HCLg?key=sCdqd7ndhGl-tJFHPTkhWQ\" alt=\"Pump.fun \u043e\u0442\u043b\u043e\u0436\u0438\u043b\u0430 \u0430\u0438\u0440\u0434\u0440\u043e\u043f \u0438 \u0441\u0442\u043e\u043b\u043a\u043d\u0443\u043b\u0430\u0441\u044c \u0441 \u0438\u0441\u043a\u043e\u043c. LetsBonk \u0443\u043a\u0440\u0435\u043f\u0438\u043b\u0430 \u043f\u043e\u0437\u0438\u0446\u0438\u0438\"\/><figcaption class=\"wp-element-caption\">Hourly chart of PUMP\/USDT on Bybit exchange. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/PUMPUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Challenges for the &#8220;Meme Token Factory&#8221;<\/h2>\n<p>The law firm Burwick Law <a href=\"https:\/\/cdn.prod.website-files.com\/681b670bc176d6cc4203cdf0\/68813e81635e9c3128ed11b4_34%20-%2007232025%20-%20Pump%20Amended%20Complaint%20-%20Aguilar%20v%20Baton%20%281%29.pdf\">filed<\/a> a class action lawsuit against Pump.fun. Defendants also include Solana Labs, Solana Foundation, Jito Labs, and Jito Foundation. The plaintiffs accuse them of organizing an illegal gambling business.<\/p>\n<p>Pump.fun was likened to a &#8220;slot machine&#8221; for the mass issuance and promotion of tokens. The platform was accused of operating without disclosure and investor protection.<\/p>\n<p>The plaintiffs claim that Pump.fun allowed anonymous token launches and trading without identity verification. In their view, the &#8220;meme token factory&#8221; created an environment with inherently unfair conditions. This was achieved through pricing based on bonding curves and preferential trading for insiders and bots.<\/p>\n<p>The accusations are based on the Organized Crime and Corruption Act. The defendants are accused of fraud, false advertising, offering unregistered securities, and deceptive practices. User damages are estimated at $4\u20135.5 billion based on on-chain data.<\/p>\n<p>Lawyers emphasized that Solana and Jito were not neutral infrastructure providers. Jito is accused of facilitating <a href=\"https:\/\/forklog.com\/en\/news\/0xngmi-pegs-solana-meme%e2%80%91coin-haul-at-3-6bn-6-6bn\">front-running<\/a> using MEV tools, while Solana Labs and Foundation are accused of monetizing user activity through block space fees.<\/p>\n<h2 class=\"wp-block-heading\">Competitor&#8217;s Progress<\/h2>\n<p>Meanwhile, Pump.fun&#8217;s competitor, the meme-coin launchpad LetsBonk, announced a support program for tokens within its ecosystem.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">gotta BONK them all \u2757\ufe0f\u2757\ufe0f\u2757\ufe0f<\/p>\n<p>starting today, 1% of BONKfun\u2019s TOTAL revenue will be reassigned from our marketing fund into buying back the top pairs within the BONK eco <a href=\"https:\/\/t.co\/LaUbh89LzL\">pic.twitter.com\/LaUbh89LzL<\/a><\/p>\n<p>\u2014 letsBONK.fun (@bonk_fun) <a href=\"https:\/\/twitter.com\/bonk_fun\/status\/1948123326599270404?ref_src=twsrc%5Etfw\">July 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The team will allocate 1% of its revenue to repurchase coins in the most successful trading pairs on the platform. Funds for this will be reallocated from the project&#8217;s marketing fund.<\/p>\n<p>According to Dune, LetsBonk earned approximately $1.4 million in fees over the past 24 hours.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdFaaRoMvFRrgEMJfS6dWHuWpe_rOmJTipCyPbObUgrhJ4-zfIVSwEJtjAbo3BM1pM5oCzrs-oeKCD6SNaOq0YTpIRnzCYw_TW8TJ9sDJc0FpdNAobskMpB1UfWvt_qPhuM1L9E?key=sCdqd7ndhGl-tJFHPTkhWQ\" alt=\"Pump.fun \u043e\u0442\u043b\u043e\u0436\u0438\u043b\u0430 \u0430\u0438\u0440\u0434\u0440\u043e\u043f \u0438 \u0441\u0442\u043e\u043b\u043a\u043d\u0443\u043b\u0430\u0441\u044c \u0441 \u0438\u0441\u043a\u043e\u043c. LetsBonk \u0443\u043a\u0440\u0435\u043f\u0438\u043b\u0430 \u043f\u043e\u0437\u0438\u0446\u0438\u0438\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/dune.com\/adam_tehc\/memecoin-wars\">Dune<\/a>.<\/figcaption><\/figure>\n<p>According to LetsBonk founder Tom, buybacks will occur weekly.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Win and help win. <\/p>\n<p>We\u2019ll be assigning 1% of bonk.funs revenue from our marketing fund to buying back top ecosystem pairs.<\/p>\n<p>This will happen once a week and any pair that reaches the high levels can be included.<\/p>\n<p>More to come. <a href=\"https:\/\/t.co\/sLnVfnjIOI\">https:\/\/t.co\/sLnVfnjIOI<\/a><\/p>\n<p>\u2014 Tom (@SolportTom) <a href=\"https:\/\/twitter.com\/SolportTom\/status\/1948123605541290418?ref_src=twsrc%5Etfw\">July 23, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Any pair that reaches &#8220;high levels&#8221; can be included in the program.<\/p>\n<p>The total capitalization of tokens launched on LetsBonk <a href=\"https:\/\/dune.com\/adam_tehc\/memecoin-wars\">has already exceeded $1 billion<\/a>. The largest asset in the ecosystem is Useless Coin, followed by ANI.<\/p>\n<p>Back on July 12, the PUMP presale <a href=\"https:\/\/forklog.com\/en\/news\/kraken-to-airdrop-extra-pump-after-token%e2%80%91sale-glitches\">concluded in 12 minutes<\/a>, raising 500 million. However, a few days later, it <a href=\"https:\/\/forklog.com\/en\/news\/pump-token-presale-participants-offload-nearly-60-of-holdings\">became known<\/a> that nearly 60% of ICO participants sold or transferred assets to centralized exchanges and other wallets.\u00a0<\/p>\n<p>On July 22, the PUMP rate <a href=\"https:\/\/forklog.com\/en\/news\/pump-fun-token-falls-below-ico-price\">fell<\/a> below the ICO price. From peak values around $0.0068, the token dropped by 45%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Co-founder of the Pump.fun platform, Allon Cohen, announced that the airdrop will not occur in the near future. In response, the price of PUMP fell by 18.7%. Allon talks about potentially acquiring more companies\/products like KOLscan, Potentially hinting to acquiring Launch on Pump pic.twitter.com\/eLRVxIJ8Sc \u2014 \u064b (@0xsyste) July 23, 2025 At the time of writing, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1158,1162,1161,1715],"class_list":["post-25550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-airdrops","tag-court-cases","tag-memes","tag-pump-fun"],"aioseo_notices":[],"amp_enabled":true,"views":"146","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25550"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25549"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}