Pump.fun Exposed for Layoffs Before PUMP Token Unlock, Some Former Employees Miss Out on Substantial PUMP Allocation

TechFlow News, July 31, according to Sandmark reports, Pump.fun was accused of conducting two rounds of layoffs before the PUMP token unlock. Documents and recordings show that the first round of layoffs occurred in early April, earlier than the token unlock time originally scheduled for June for relevant employees, and at least one former employee may have thereby lost a PUMP token allocation worth up to seven figures in USD at current prices. Co-founder Noah Tweedale stated in an internal meeting that the reason for the layoffs was that the company "expanded too quickly".

Additionally, former employees stated that the company conducted a second round of layoffs in mid-July, with cumulative layoffs over the past two months exceeding 40 people, though some claims have not yet been independently verified. Public information shows that Pump.fun operates in the UK under the name Baton Corporation Ltd; although it has blocked UK users since December 2024, it remains on the UK Financial Conduct Authority warning list; meanwhile, the company's latest annual report is also overdue.