Pump.fun Reportedly Fired Employees Before Million-Dollar Token Vesting
Quick Look
- Solana-based memecoin launchpad Pump.fun reportedly fired employees in April, two months before they were due to receive PUMP tokens worth millions, citing rapid growth.
- Agreements indicated token vesting was scheduled for June 2026.
AI-generated summary
Why It Matters
Pump.fun, a Solana-based memecoin launchpad, reportedly fired employees two months before their PUMP tokens, worth millions, were due to vest. The company cited growing "too quickly."
Solana-based memecoin launchpad Pump.fun reportedly fired employees two months before they were due to receive PUMP tokens worth millions of dollars.
According to a Friday Sandmark report, at least one Pump.fun worker was due to receive PUMP tokens worth in the seven-figure range. The news outlet reported that Pump.fun co-founder Noah Tweedale said the company “grew too quickly,” resulting in layoffs of an undisclosed number of employees.
The employees were reportedly fired in April, just two months before they were due to start receiving the company’s tokens based on agreements signed in 2025. The agreements, according to documents viewed by Sandmark, said that Pump.fun would unlock a quarter of the employees’ allocated tokens in one year, scheduled for June 2026.
Pump.fun has previously been the target of a lawsuit involving allegations the company operated a “rigged” machine for investors and another one regarding its maximal extractable value (MEV) practices.
At the time of publication, the price of PUMP was $0.002113, a 7.5% increase over the previous 24 hours.
Open Questions
- How many employees were laid off?
- What are the specific terms of the 2025 agreements?
- How will this affect Pump.fun's operations?
