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Pumpfun is facing a federal lawsuit over an alleged $500 million pump-and-dump scheme, marking a significant legal challenge for the meme coin platform. The lawsuit, which has been described as a class action, includes allegations of unregistered securities sales and insider-driven schemes. This legal action highlights the increasing regulatory scrutiny on meme coin platforms, raising concerns about the risks associated with this sector. The case is being heard in New York City, underscoring the growing legal issues faced by cryptocurrency projects.
#web3 Legal Roundup 🗞️ 👨🏻⚖️ @PumpdotFun faces lawsuit in NYC ✅ SEC approve Bitwise #BTC + #ETH ETF 💰 @Coinbase acquires @Spindl_xyz 🐕 @Grayscale launches #DOGE trust 🗃️ @21Shares files for @Polkadot ETF 👨🏻⚖️ @Stronghold_DM to pay $1.4M for violating @PJMinterconnect market rules
"@pumpdotfun just went from token launch pad to courtroom drama, accused of a $500M pump-and-dump." lol just $500M 🤣
PUMP·FUN FACES LEGAL RECKONING The second lawsuit against Pump·fun underscores the mounting regulatory scrutiny on meme coin platforms; allegations of unregistered securities sales and insider-driven schemes highlight the risks in this sector. The debate over meme coins—hype… https://t.co/AZA9LNq2ev