Pump.fun axes staff two months before their seven-figure PUMP payday ⏰

Solana-based memecoin launchpad Pump.fun terminated employees in April, roughly two months before they were scheduled to begin receiving PUMP token allocations valued in the millions, according to a Friday report from Sandmark.

At least one affected worker was owed PUMP tokens worth in the seven-figure range, Sandmark reported, citing documents it reviewed. Those agreements, signed in 2025, stipulated that Pump.fun would unlock a quarter of each employee's allocated tokens in June 2026. Pump.fun co-founder Noah Tweedale told Sandmark the company "grew too quickly," though the outlet said the total number of layoffs was not disclosed.

Pump.fun has previously faced litigation, including a lawsuit alleging the platform operated a "rigged" machine for investors, as well as a separate case concerning its maximal extractable value, or MEV, practices.

PUMP was trading at $0.002113 at the time of publication, up 7.5% over the previous 24 hours.