Pump.fun Co-Founder Quashes Token Launch Rumours

Pump.fun co-founder Alon Cohen has firmly dismissed rumours about a potential token launch and IPO, labelling such reports as “incorrect” and urging the community to disregard anything not directly confirmed by the team.

His comments came after a wave of speculation, fuelled by leaked internal documents reportedly obtained by WuBlockchain.

Cohen clarified that the platform’s focus remains on enhancing its product rather than issuing a token.

While denying these claims, he did not rule out future plans to reward users.

Speculation began circulating on 9 February, when reports suggested a Dutch auction in collaboration with unnamed centralised exchanges (CEXes) and a possible airdrop for early adopters.

These rumours also mentioned a token supply of 420 million, with half allocated for public sale—claims Cohen has now refuted.

Leaked Documents Revealed Plans of Token Issuance

WuBlockchain has pushed back against Cohen's denial, labelling it deceptive.

The community also chimed in that they are more inclined to believe the crypto sleuth.

The media outlet initially uncovered Pump.fun’s alleged token plans, publishing details about the platform’s token issuance strategy.

According to the leaked documents, Pump.fun intends to issue 420 million tokens, with half allocated for a Dutch auction.

Early investors would receive 22.05% of the supply, while the team secures 25%, both with a one-year cliff and a three-year unlocking schedule.

WuBlockchain also claims that Pump.fun has collected $572 million in fees, with $386.8 million already transferred to Kraken.

Although Pump.fun had previously hinted at launching a native token and confirmed that early adopters would receive a share of the supply, the platform has not provided any additional updates on the initiative.

Pump.fun Drama Intensifies with DOGSHIT2 Token Scandal

The legal controversy revolves around the controversial “Dog Shit Going Nowhere” (DOGSHIT2) token.

Burwick Law issued a cease-and-desist letter demanding its immediate removal, accusing Pump.fun of using the law firms’ names and logos to mislead investors.

The firms said:

“We have no affiliation, endorsement, or ownership interest in the Dogshit2 token or any related assets. Simply put, our firms have not launched any memecoins on-chain.”

The letter further alleged that Pump.fun had collaborated with third parties to create tokens intended to intimidate plaintiffs in ongoing litigation.

Burwick Law condemned these actions as a severe abuse of blockchain technology, framing it as an attempt to undermine justice.

The firms warned:

“Investors should be extremely cautious.”

The firm emphasized that it would pursue all available legal avenues to hold those responsible accountable, including working with government authorities to combat fraudulent market practices.