Speaking on the Threadguy podcast, Pump.fun’s pseudonymous founder, Alon, revealed that there will be no airdrop for the PUMP token in “the immediate future.”
The PUMP token, which has been in decline since launching, has dipped by 17% upon the news, and is now trading at $0.003, far below its presale price of $0.004.
The token has slumped by over 40% since launching on July 12, 2025.
With all that said, the platform’s time in the limelight may be coming to a close.
Per Dune data, Pump.fun token launches, daily active addresses, and new signups have all tumbled dramatically,
Furthermore, on-chain analytics have revealed that private sale investors of the PUMP token have begun offloading over $160 million worth of PUMP via exchanges, further adding to the token’s downward spiral.
Stacking Controversies
Aside from the platform’s marred history of allowing its users to leverage a live stream feature to promote their memecoin launches by any means necessary, Pump.fun’s controversies don’t stop there.
At present, the platform is also facing a gigantic lawsuit which alleges the Pump.fun operated as a “front-facing slot machine cabinet” that soaked up over $5.5 billion from users through allegedly deceptive crypto schemes.
“The structure mimics a rigged slot machine where the first few players win by dumping their tokens on later ones. There is no underlying project, product, or revenue — only a fast-moving cycle of buying, dumping, and collapse,” the lawsuit notes.
The lawsuit names several defendants, including the platform’s operators, developer Bernie, parent company Baton Corp, as well as Solana Labs, the Solana Foundation, Jito Labs, and the Jito Foundation.
The suit alleges Solana and its Foundation facilitated the scheme by allowing Pump.fun to run on its blockchain and profit massively from it.
Jito, for its part, provided liquidity infrastructure and earned revenues through maximum extractable value strategies via memecoin trading on the platform.
For now, it seems that Pump.fun’s troubles have only just begun.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
