$PUMP Token Holders Left High and Dry as Pump.fun Conducts Mass Layoffs

Pump.fun, a Solana-based memecoin launchpad, has been embroiled in controversy after allegedly laying off over 40 employees just before their $PUMP token grants were set to vest. According to an investigative report from Sandmark, the layoffs took place across two rounds, with the first wave happening in early April 2026 and a second round following in mid-July 2026.

The $PUMP token grants in question were originally agreed upon in June 2025, with the first tranche set to vest around June 2026. This means that employees who were let go in April were cut just weeks before they would have been eligible for their compensation. At least one former employee claims their now-forfeited allocation was valued in the seven figures.

Pump.fun has not publicly commented on the allegations, which come as no surprise given its history of internal trouble. In 2024, the company dealt with a $2 million embezzlement incident and more recently, it was hit with a regulatory fine in the UK for missed accounting filings. The $PUMP token isn't exactly thriving either, currently trading at around $0.002 - a 77% decline from its peak in September 2025.