Pump.fun laid off employees shortly before token vesting, allegedly costing at least one worker a seven-figure PUMP allocation.
Ecosystem ·
Pump.fun, the Solana memecoin launchpad, terminated staff in early April approximately two months before scheduled token vesting, with at least one worker forfeiting a seven-figure PUMP token allocation as a result. Co-founder Noah Tweedale attributed the reductions to the company expanding too rapidly, according to documents and recordings reviewed by Sandmark. Those dismissed received severance of one week's salary per month worked; their token grants, signed in mid-June 2025, were structured to begin unlocking one year later at a quarter per year.
A second round of dismissals allegedly occurred in mid-July, with former employees claiming over 40 total departures in a two-month span. One individual reportedly lost vesting rights just one day before the unlock date, and an X account attributed to a former employee has posted what it claims are termination notices. Pump.fun operates as Baton Corporation Ltd in the UK and has blocked UK users since December 2024 following an FCA warning about potential unauthorized financial services provision.
The company's regulatory standing and governance remain unclear. Co-founders did not respond to requests for comment. Baton's most recent filed accounts, covering March 2024, showed three employees; accounts for the nine months ending September 2025 were due in June and remain overdue, potentially triggering UK filing penalties.