Pump.fun Fires Employees Before Token Unlock Amid Ongoing Scrutiny

Pump.fun, a Solana-based memecoin launchpad, has been accused of firing employees before they were due to receive millions in PUMP tokens.

According to a report by Sandmark, at least one employee was set to receive PUMP tokens worth over seven figures. The tokens were part of agreements signed in 2025, which stated that the company would unlock a quarter of the employees' allocated tokens in June 2026.

The layoffs took place in April, just two months before the scheduled token unlock date. Pump.fun co-founder Noah Tweedale attributed the firings to the company's rapid growth. The news comes as Pump.fun faces ongoing scrutiny over its business practices, including a lawsuit alleging that it operated a 'rigged' machine for investors.