Pump.fun staff lost millions after layoffs, report claims

Pump.fun, a Solana memecoin launchpad, reportedly fired over 40 employees in late March and early April just before $PUMP token allocations vested, stripping staff of token rewards and leaving at least one former employee without a seven-figure payout. A Sandmark report citing internal documents, emails and audio flags governance, token allocation and legal risks that could create reputational and market pressure on $PUMP and weigh on fundraising and adoption for similar crypto launchpads.