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Solana Labs and Jito Labs served Pump Fun lawsuit

Solana Labs and Jito Labs have been served a Pump Fun lawsuit that accuses them of aiding the memecoin platform’s illegal casino enterprise.

PUMP lost $700M in market cap as Alon Cohen shut down airdrop rumor

Pump Fun’s PUMP token fell 14% on Wednesday at the same time as the company’s CEO Alon Cohen was being interviewed by Threadguy.

PUMP, the token for Pump Fun, has crashed approximately 60% from its peak, falling below its initial coin offering price.

Solana and Jito are now named as defendants in Burwick Law’s lawsuit against Pump Fun which now includes fraud accusations.

Judge Colleen McMahon combined two Pump Fun lawsuits and reduced the potential awarded attorney costs for the legal firms involved.