Overview
- An investigation reported July 31 by Crypto Briefing, based on Sandmark research, says Pump.fun carried out layoffs in early April 2026 and again in mid‑July 2026 that fell just before scheduled PUMP token vesting.
- The reporting says more than 40 staff were cut across the two rounds, that severance was paid based on tenure, and that unvested PUMP allocations were canceled so employees lost the right to those tokens.
- At least one former worker told investigators their forfeited allocation would have been worth seven figures at prior prices, while a newly created X account claimed 40 people were dismissed one day before a vesting event.
- Pump.fun, run by Baton Corporation, is a high‑revenue Solana launchpad with roughly $1.3 billion in cumulative revenue and a history of a 2024 embezzlement and a recent UK filing fine.
- The allegations come as PUMP trades about 77% below its peak near $0.002 and follow on‑chain team distributions in July, and they could prompt inquiries into token‑based pay and employment rules by regulators and labor authorities.