Pump.fun Accused of Axing Employees Just Before PUMP Token Vesting

Pump.fun, a leading Solana meme coin launchpad, has been accused of laying off employees just before their PUMP token grants were due to vest. According to an investigation by Sandmark, at least one former employee lost a token allocation now worth seven figures.

The layoffs occurred in late March and early April, after the company's rapid expansion. In a recorded meeting, co-founder Noah Tweedale told employees that the cuts were necessary because the company had expanded too quickly.

Workers whose contracts ended in early April reportedly received severance based on tenure, but many were dismissed just weeks before their PUMP token allocations were scheduled to vest under agreements signed in June 2025. A second round of job cuts was also reported in mid-July, with one former employee alleging that they were fired by Baton Corp., the development firm behind Pump.fun, after more than a year with the company.

Pump.fun has not publicly responded to the allegations, which contradict claims that PUMP would be distributed as an airdrop. The token changed hands at about $0.002 at press time, up nearly 5% in the last 24 hours, per CoinGecko.