Regulations
By Pankaj K
1 / 15
The $370 Million Burn and the July Unlock. The same month those workers were let go, Pump.fun ran a $370 million token burn, wiping out…
2 / 15
Filings Missing, Lawsuit Pending. Verifying the full scope of the layoffs is hard right now. The entity behind Pump.
3 / 15
Former Pump.fun workers say they got pushed out roughly two months before their PUMP token grants were due to vest — and then watched the company's own team unlock 50 billion…
4 / 15
The story broke through an X account claiming to speak for more than 40 ex-employees. The account started posting termination emails, and the timing looked bad for Pump.fun.
5 / 15
The same month those workers were let go, Pump.fun ran a $370 million token burn, wiping out roughly 36% of the circulating PUMP supply.
6 / 15
Revenue numbers during the same stretch were actually pretty strong. In the 30 days leading up to July 22, Pump.fun pulled in $19.
7 / 15
PUMP itself traded near $0.0020 last Friday — up 6% in a single day. But that's still well below where it peaked back in September 2025, and it's below the initial coin offering…
8 / 15
See also: Pump Fun Fired 40+ Workers Days Before Token Vesting in $1B-Revenue Firm
9 / 15
Verifying the full scope of the layoffs is hard right now. The entity behind Pump.fun is a UK-registered company called Baton Corporation Ltd.
10 / 15
And there's more legal pressure on top of all this. Noah Tweedale and Alon Cohen are both named in a securities class action filed in New York back in January 2025. Pump.
11 / 15
The X account speaking for the ex-employees is still active. Claims are unresolved.
12 / 15
A second wave of layoffs has been reported but verification is sparse. No one's confirmed it officially, and Pump.fun certainly hasn't.
13 / 15
More context: Upbit Moves 864 Billion SHIB Tokens After 36% Rally Shakes Korean Market
14 / 15
The contrast is hard to ignore. The platform's revenue grew month over month. The team unlocked $102 million in tokens.
15 / 15
Baton Corporation Ltd's overdue accounts were expected by June 30.
The Currency Analytics
Want the full story?