Pump.fun laid off workers before they received millions in PUMP tokens: Report
Pump.fun co-founder Noah Tweedale reportedly attributed the layoffs to the company growing too quickly.
Pump.fun, a Solana-based memecoin launchpad, has reportedly laid off employees two months prior to their scheduled reception of PUMP tokens valued in the seven-figure range. Co-founder Noah Tweedale cited the company's swift growth as the reason behind the dismissals, which occurred in April, just two months before the employees were to begin receiving their tokens.
The employees' contracts, signed in 2025, stipulated that a quarter of their allocated tokens would be released annually, commencing in June 2026. Pump.fun has faced legal challenges in the past, including allegations of operating a rigged system for investors and issues surrounding its maximal extractable value (MEV) practices.
As of publication, the PUMP token price stood at $0.002113, reflecting a 7.5% increase from the previous 24 hours.
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