Pump.fun Lays Off Staff as Token Grants Vest
Pump.fun, a company in the crypto industry, laid off staff in early April 2026. The terminations occurred just two months before a quarter of their PUMP token grants were due to vest, according to an email and meeting recording obtained by Sandmark.
The affected employees had signed grant agreements in mid-June 2025, under which a quarter of their PUMP allocation would unlock roughly a year later. The timing of the layoffs meant that at least one former employee's now-forfeited allocation would be worth seven figures at current PUMP prices.
On-chain analysis shows that Pump.fun's own team and investors received a large token unlock in mid-July 2026, three days after the scheduled date. The amount was for less than the full scheduled total, with 57.279 billion PUMP valued at around $86-$92 million moving into 121 wallets.
The exact scale of who was let go and when is not fully on the public record due to an outstanding filing by Baton Corporation, which discloses employee headcount.