Michaela
Pump.fun co-founder Alon Cohen has denied rumors that the Solana-based platform has introduced its own meme coin and is preparing for an initial public offering (IPO).
On February 9, Cohen took to X to address speculation surrounding the platform, urging users to rely only on official communications. “Seeing rumors about a potential pump fun token – these are wrong,” Cohen wrote.
Cohen reiterated that Pump.fun’s priority over the past year has been refining its platform and rewarding users. He said that the team has focused on enhancing the user experience rather than pursuing other initiatives.
Wu Blockchain reported that alongside Pump.fun’s token release and public offerings, the platform will implement the Dutch auction model. Additionally, it is collaborating with centralized exchanges (CEXs) to develop the system.
The news outlet also reported that its team had verified this information with multiple insiders at Pump.fun.
Despite Cohen’s denial of a token launch, Wu Blockchain directly challenged the co-founder, alleging that Pump.fun was misleading the public.
“It is almost a public fact that Pumpfun plan to issue token using the Dutch auction inside the CEXs, please don’t lie,” Wu Blockchain wrote in response to Cohen’s X post denying the token launch.
Wu Blockchain further stated that its team had obtained detailed documents outlining Pump.fun’s coin issuance preparations for centralized exchanges. The outlet also noted that it could disclose its findings with granted permission.
Additionally, listing staff from multiple exchanges confirmed to the news outlet that Pump.fun intends to issue a token, though the exact timing of the launch remains uncertain.
Given these developments, it remains unclear whether Pump.fun will proceed with a token launch, particularly amid its ongoing legal challenges.
In early January, cryptocurrency-focused law firm Burwick Law filed a lawsuit against the Solana-based platform, representing investors who claim to have suffered substantial financial losses from its meme coin trading activities.
Burwick Law stated that its decision to pursue legal action followed months of working with individuals who experienced significant financial losses due to meme coins, rug pulls, and unfulfilled commitments within the crypto industry.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
